UltraTax CS

1120-US: S Corporation distributions and section 1368 distribution elections FAQs

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The following includes answers to common questions about the section 1368 distribution elections.

What ordering does UltraTax CS use when an S Corporation with earnings and profits makes a distribution?

How does UltraTax CS change the ordering of distributions when the election to distribute accumulated E&P first is made?

How does UltraTax CS change the ordering of distributions when the election to forgo distribution of PTI is made?

How can I make the election for a deemed dividend?

How does UltraTax CS determine the amount of deemed dividend for each shareholder used in the deemed dividend election statement?

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