Partner Data Entry > Changes of Ownership window

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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.

Use this window to enter changes of ownership throughout the year. The Changes of Ownership window has two sections.

  • Changes of Ownership list - Use the list on the left side of the window to select the information you want to view in the Changes of Ownership grid on the right side of the window.
  • Changes of Ownership grid - Use the grid on the right side of the window to enter data or view information about the partners' profit, loss, and ownership of capital changes throughout the year.

To open the Changes of Ownership window, click the Partner Information Partner Information button button, choose View > Partner Information, or press CTRL+R, and then click the Changes of Ownership button.

Changes of Ownership list

Display options group box

Date

Click this option to view the profit, loss, and ownership of capital percentages or units for each change of ownership separately in the Changes of Ownership grid.

Type

Click this option to view all of the ownership changes for profit, loss, or ownership of capital percentages or units separately in the Changes of Ownership grid.

List

Click an item in the Changes of Ownership list to view the item in the Changes of Ownership grid.

Changes of Ownership grid

To update a change of ownership, click the appropriate date in the left column. Then, in the Changes of Ownership grid on the right, update the percentages or units for partners whose ownership has changed.

To add a new change of ownership, click the Add Date Add Date button button, enter the date on which the ownership changed, and click OK. (The date you enter must fall within the client's tax year.) UltraTax CS automatically adds a column for the date you entered and shows the percentages or units of profit, loss, and ownership capital from the previous date for each partner. You can then update the percentages or units for partners whose ownership has changed.

Notes

  • You can enter only one change of ownership for each day of the client's tax year.
  • If the remaining percentage (100 percent less the current total for profit, loss, or ownership capital) should be distributed to the remaining partners, either equally or pro rata, click the Distribute Distribute button button to select partners and to indicate how the remaining percentage should be distributed.

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