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.

If you have a 1099-DIV, see Form 1099-DIV data entry.

Otherwise, to enter taxable dividends and report them on Schedule B:

1. Go to the Income folder.
2. Go to either the B&D screen or the Broker screen. Only use the Broker screen if you want to enter a consolidated 1099.
3. Open the Dividend income statement and complete these fields:
   • F/S: If the dividend income is federal-only or state-only, code it as federal or state. If the dividend income should be reported on both federal and state, leave this field blank.If there are multiple states on the return, see Entering interest and dividend income for a multi-state return.
   • TSJ: Code the dividend income to the Taxpayer, the Spouse, or as Joint. This field does not exist if you come from the Broker screen because the entire Broker screen is coded to the Taxpayer, Spouse, or Joint and the Dividend income statement automatically picks up the code from there.
   • Type Code: Leave blank.
   • Payer: Enter the payer name.
   • Ordinary Dividend: Enter ordinary dividend amounts from Form 1099-DIV. Do not enter tax-exempt dividends in this field.
   • Qualified Dividend: Enter qualified dividend amounts from Form 1099-DIV. Do not enter tax-exempt dividends in this field.
   • Total Cap Gain: Enter total capital gain distribution amounts from Form 1099-DIV or similar statements.
   • Sec 1250: Enter section 1250 capital gain distribution amounts from Form 1099-Div or similar statements.
   • Sec 1202: Part or all of the section 1202 gain entered in this field may be eligible for an exclusion from income. The taxpayer must have held an interest in the RIC/REIT that sold the qualified small business stock (QSB) on the date the QSB was acquired and continuous until the stock was sold.
   • 1202 Excl Code: If the taxpayer qualifies for the exclusion, enter the code that represents the appropriate exclusion or use the fieldview to make your selection.
   • 28% Cap Gain: Enter 28-percent capital gain distribution amounts from Form 1099-DIV or similar statements.
4. For fields that were skipped during these steps, fill them in as needed for your client or to get your desired result on Schedule B.

Nominee amount adjustments

If you need to make an adjustment for nominee amounts, do not manually adjust the total dividend amount. Instead:

1. Create a second line in the Dividend income statement.
2. Enter code 3 in the Type code field.
3. Enter the adjustment as a positive amount in the same column that you entered the total dividend income in.

UltraTax CS calculates a subtotal of items with type code 3 and subtracts the nominee amount on Schedule B.

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