1120-US: Calculating Schedule G on Form 1120-C (FAQ)

Show expandable text

Question

Why isn't UltraTax CS/1120 automatically calculating Schedule G?

Answer

A cooperative association is not required to complete Schedule G if the total receipts for the year and year-end assets are less than $250,000. If you want to calculate Schedule G when not required, mark the Complete Schedule G when receipts and assets are less than $250,000 (Form 1120-C) field (Setup > 1120 Corporation > Federal tab > Other Return Options > Return Presentation tab).

Note: To set this option on a client-by-client basis, mark the Complete Schedule G when not required field in Screen 1120C in the 1120C folder. The field in Screen 1120C is not available if the respective checkbox in Setup > 1120 Corporation > Federal tab > Other Return Options > Return Presentation tab is already marked.

Was this article helpful?

Thank you for the feedback!