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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.

Question

Where is the data entry to elect out of the centralized partnership audit regime (section 6221(b))?

Answer

A formal election is not required. Instead, use the following fields.

• Use the Electing out of the centralized partnership audit regime under section 6221(b) field on Screen OthInfo in the General folder to answer Yes to Schedule B, Question 25.
• Use Screen SchB2 in the Elections folder to enter detail for shareholders of S corporation partners for Schedule B-2.

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