UltraTax CS

1120-US: Built-in gain tax calculation for S Corporations FAQs

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The following includes answers to common questions about the built-in gain tax calculation for S Corporations.

How does UltraTax CS/1120 calculate the built-in gain tax?

Why is the built-in gain tax deductible on the S Corporation return?

Does UltraTax CS/1120 track the prior C Corporation losses that can be used to offset the S Corporation built-in gain tax?

Why are some of the prior C Corporation loss carryovers limited in calculating the built-in gains tax?

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1120 frequently asked questions

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