UltraTax CS
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.
Question
Where do I enter reductions to the partnership's effectively connected taxable income under Regulations section 1.1446-6?
Answer
Use the statement dialogs for the Reductions to effectively connected taxable income: State and local taxes / Partner-level items on Form 8804-C fields in Screen 8804.
Notes
- To enter reductions for all types of income allocable to corporate foreign partners, choose code 1, Net ordinary income, in the statement dialogs for the Reductions to effectively connected taxable income: State and local taxes / Partner-level items on Form 8804-C fields. Use the Ptr Alloc button to allocate these amounts to the appropriate partners.
- Reductions entered in Screen 8804 will be disregarded for those partners with the De minimis partner certificate on file checkbox marked in the Federal tab in the Partner Information window in Partner Data Entry.
Was this article helpful?
Thank you for the feedback!