1120-US: Entering shareholder wages used to calculate the Section 179 business income limitation (FAQ)

Show expandable text

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.

 

UltraTax CS transfers the shareholder’s demographic information to the statement dialog for the Officer’s compensation field on Screen Inc when you mark the Shareholder is an officer field in the View > Shareholder Information > Other Info tab Enter the shareholder’s wages in this statement dialog. UltraTax CS includes the wages of the designated shareholders in the section 179 business income calculation. If not all shareholders are officers of the S Corporation, enter the total shareholder employee wages in the Total shareholder employee wages (S Corp/Force) field on Screen OthAsset in the General Folder.

Was this article helpful?

Thank you for the feedback!