Interim closing annualization

Per Regulations section 1.706-4(a)(1), a partnership can use 1 of 2 methods to determine a partner's distributive share for Schedule K-1 and other partner forms: proration and interim closing of books.
Use interim closing annualization with the interim closing of books method to calculate the partners' distributive shares for Schedule K-1 and other partner forms
UltraTax CS uses the amounts entered in the
Interim Closing Annualization
screen. It combines these figures with the profit or loss percentages for each ownership period entered in the
Changes of Ownership
window in Partner Data Entry to calculate the partners' distributive amounts.

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