Partner Data Entry > Puerto Rico tab

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Use the Puerto Rico tab in the Partner Information window in Partner Data Entry to enter Puerto Rico-specific information for partners. The Puerto Rico tab appears only if Puerto Rico has been added to the client.

To update a partner's Puerto Rico information, click that partner in the Partner Information window, and then click the Puerto Rico tab.

Fields & buttons

Percentage of time devoted to industry or business

Enter the amount of time the partner has devoted to the industry or business. UltraTax CS uses this information on Form 480.1(S) and Form 480.1(E).

Managing partner

Mark this checkbox to indicate the partner is the managing partner. UltraTax CS uses this information on Form 480.1(S), Form 480.1(E), Form 480.6(S), and Form 480.6(SE).

Elect section 1114.06(b)

Mark this checkbox to indicate the partner in a Special Partnership is electing to tax income under section 1114.06(b).

Investment partnership

Mark this checkbox to indicate that the partner is operating as an investment partnership..

Related topic: Partner Data Entry > State tabs

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