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.
Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.
To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.
Fields & buttons
Ohio information group box
If the shareholder is a nonresident, enter a code from the following table or select the code from the drop-down list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to calculating withholding on Form IT 1140 for the shareholder.
| Code |
Description |
| 1 |
Withholding (default)
This is the default filing for a nonresident shareholder when a code is not selected from the drop-down list. Select this option to indicate the shareholder is subject to withholding on Form IT 1140. UltraTax CS completes Form IT 1140, column I when you select Individual in the Entity field in the Other Info tab. UltraTax CS completes column II for all other entity types. |
| 2 |
Composite filer
Select this option to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form IT 4708 for participating nonresident shareholders. |
| 3 |
Exempt from withholding
Select this option to indicate the shareholder is exempt from withholding and not filing Form IT 1140 or Form IT 4708. |
Enter 1 to indicate the shareholder is a qualifying investor or composite filer owning at least 20 percent of the corporation. UltraTax CS uses this information to calculate the amount of taxable income on Form IT 1140 or IT 4708.
UltraTax CS uses this amount to calculate the taxable income on Form IT 1140 Schedule B or Form IT 4708 Schedule II.
This amount does not reduce the Within Ohio and Total Everywhere payroll factors on Form IT 1140 Schedule C or IT 4708 Schedule IV. To reduce the Within Ohio and Total Everywhere payroll factors, enter the compensation paid to qualifying investors on the Ohio tab in View > Apportionment.
UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen OHKSep. UltraTax CS prints the information you enter in this statement dialog in the Shareholder Worksheet statements.
Depreciation adjustments group box
Enter the amount of Section 168(k) depreciation addback for the indicated tax years. UltraTax CS uses these amounts to calculate the depreciation adjustment on Forms IT 1140 and IT 4708. UltraTax CS proformas these amounts to next year.
Enter the amount of Section 179 depreciation addback for the indicated tax years. UltraTax CS uses these amounts to calculate the depreciation adjustment on Forms IT 1140 and IT 4708. UltraTax CS proformas these amounts to next year.
UltraTax CS
