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 do I prepare an eliminations client?

Answer

Eliminating entries for the consolidated group should be entered in an eliminations client. The eliminations client is set up in the same manner as the parent or subsidiaries of the consolidated group. Enter amounts to be added as positives and enter amounts to be subtracted as negatives. The application does not assume entered amounts are negative. The eliminations return should be prepared like a regular return and must be balanced.

Was this article helpful?

Yes No

Submit