startPartnership statement - partner share allocation
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Partnership statement - partner share allocation

CCH Personal Tax
Last update: Reading time 1 minutes
Partnership Tax

    The Partnership Statement located within Tax Return Data of a partnership period.

    The Partnership Statement located within Tax Return Data of a partnership period. 

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_1.png

    The statement will display  Tax return data entered for the period with adjacent columns to allocate Partners associated with the Partnership association and displayed in the Partnership tab in CCH Central.

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_2.png

    If an associated Partner's name is not displayed select New.

    In the Search for bar Type  the partner's Name, Code or Address and click on the hyperlink to add the Partner.

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_3.png

    When partners are added in the Partnership tab in Central they will display in the Partnership Statement within the Tax Return Data

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_4.png

    The Totals will be Unallocated until it is either allocated per line or allocated via the Profit sharing points/ percentage row.

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_5.png

    To include this information i the individual's tax return, select Partnerships within Tax Return Data of the individual's Tax Return

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_6.png

    And select the Click here to add a new partnership hyperlink;

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_7.png

    Select the partnership from the list of Associated partnerships;

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_8.png

    Complete the Setup partnership screen and click Next;

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_9.png

    Review and edit any shares and click Finish;

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_9a.png

    Review the tabs within the Partnerships input area and Save and Close

    Personal_Tax_Partnership_Tax_Partner-Share-Allocation_9b.png

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