UltraTax CS

Allocating partnership items to partners FAQs

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The following includes answers to common questions about partner allocations.

How are amounts allocated to the partners?

What items are automatically allocated using the loss sharing percentages?

Does UltraTax CS support Regulation 1.706-4?

How do I know if UltraTax CS is using the proration or interim closing of books method to distribute amounts to partners?

Can I use the proration method to allocate one item to a partner and the interim closing of books method to allocate another item?

Can you provide an example of how an amount is distributed to a partner when I use the proration method versus the interim closing of books method?

How is beginning capital allocated to the partners?

How do I change the profit, loss, and ownership columns in the Allocations window in Partner Data Entry to use units instead of percentages?

What is a custom allocation scheme?

How do I use the advanced allocation scheme?

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