New (tax) year, new help!
Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
Question
How can I track all elections taken by clients in current and prior tax years?
Answer
There are several Election History statements that can be used to track your clients' elections. Each statement contains the following fields.
- Description
- Tax Year
- Effective Period
- Comments
The Election History statement dialogs are in the following input screens.
Folder | Screen |
---|---|
Retirement | 1099R |
Taxes | 8697, ACA Tax |
Farm Rental | 4835-2 |
Business | C-3 |
Farm | F-3 |
Elections* | Elect* |
Rent & Royalty | Rent-2 |
Itemized Deductions | MortgInt |
K1 1065, 1120 | K1-7 |
* The Election History statement dialog in Screen Elect, located in the Elections folder, is used to track non-activity-based elections.
Information will proforma to the Election History statement dialogs.
An election report is also available for review. To the print the report, enter X in the Print Election Report field in Screen Elect, located in the Elections folder. The report will print the current-year elections and the information contained in all Election History statement dialogs.
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