1120-US: Form 1120-C deductions being limited (FAQ)

Show expandable text


Why are the other deductions being limited by UltraTax CS/1120?


Any patronage source losses cannot be used to offset nonpatronage income. UltraTax CS/1120 automatically generates an adjustment to reduce other deductions when patronage source losses exceed patronage source income reported on Schedule G.

Was this article helpful?

Thank you for the feedback!