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In the Interest income and Dividend income statements on the B&D screen you will find an F/S Code, State, and In-State Source % column.
Resident / nonresident processing
Generally, you should leave the F/S and State fields blank when processing a resident return with one or more nonresident returns. If the income is not source-income on the nonresident return, leave the In-State Source % field blank (or enter 0.000). If the income is source-income on the nonresident return, enter 100.000 in the In-State Source % column. Note that resident state returns ignore any entry in the In-State Source % field.
It will sometimes be necessary for you to make multiple lines of data-entry for a single item of interest or dividend income. For example, if each state return requires a different In-State Muni % or amount, or In-State Source % ratio, make multiple lines of data entry, completing the State field with the appropriate two-letter postal code for each entry. Enter S in the F/S field for all of your duplicate state entries. (The S designates an item as State only this is necessary so that the item is not duplicated on the federal tax return). Finally, enter the line for the federal return. Designate this line for the federal return by entering F in the F/S field.
1040/Massachusetts Users Only: When making multiple lines of data entry for a payer, enter the S code in the F/S field on the line with the postal code of the other state. Do not enter the S code on the line that contains the MA postal code.
Resident / nonresident processing example
Part-year resident processing
Generally, make multiple lines of data entry for each item of interest or dividend income received. For example, if each state return requires a different In-State Muni % or In-State Source % ratio, make multiple lines of data entry, completing the State field with the appropriate two-letter postal code for each entry. In the In-State Source % field, enter a percentage if you want to allocate a portion of the income to the state indicated in the State field. Leave the In-State Source % field blank (or enter 100) to allocate 100 percent of the income to the state return. Enter 0 in the In-State Source % field if none of the income is source-income for the state return.
When making multiple lines of data-entry for a payer, enter S in the F/S field for all of the duplicate state entries. The S designates an item as State only. This is necessary so that the item will not be duplicated on the federal tax return. Finally, enter the line for the federal return. Designate this line for the federal return by entering F in the F/S field.
1040/Massachusetts Users Only: When making multiple lines of data entry for a payer, you must enter the S code in the F/S field on the line with the postal code of the other state. Do not enter code S on the line that contains the MA postal code.
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