Sharing data between members of a controlled group (1120)
To share data between members of a controlled group, complete the following steps.
- Complete the tax return for each member of the controlled group. Be certain the taxpayer identification number is entered in File > Client Properties, and the Part of controlled group field in Screen 1120 is marked.
- Preview the tax return for all the members of the controlled group.
Note: UltraTax CS must calculate and preview or print all members of the controlled group to share the financial data correctly.
- Open each member's tax returns to import financial data to Screen Ctrl-2. If there is a new member in the controlled group this year, enter the corporation's EIN in Screen Ctrl-2, and UltraTax CS will automatically import the information.
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