Tax & Accounting Blog

2015 UltraTax/1040 Allows Marking an Activity as Inactive

CS Tax & Asset Management Solutions January 13, 2016

Beginning with 2015 UltraTax CS/1040, you can mark activities as inactive. The new Inactive Activity for 2015 field is now available for the following activities:

  • Business
  • Rent & Royalty
  • Farm
  • Farm Rental
  • K1 1065, 1120S
  • 5471
  • 8858

When this field is marked, any data you enter for the activity does not impact the tax return or calculations. In addition, an Inactive Activities Summary report is now available.

Note: The program also generates diagnostics to identify any special circumstances or other information pertaining to the inactive activity.