How do I get an Arizona composite Form 140NR for an 1120S return using worksheet view?
Arizona uses Form 140NR to prepare a composite return for non-resident shareholders. This form can be produced in 3 ways.
General steps for all methods:
1. Open federal tab Shareholder > Shareholder Information
2. Input in the column titled State Residency Code a state code for the shareholders' resident state
Method 1 (Include all nonresident individual shareholders)
1. Open tab Arizona > Other
2. Open section 1 - Arizona Composite Basic Data
3. Input in the line titled Composite processing code - line 1 'Include all N/R individuals '. For methods of input click here.
Method 2 (Includes all nonresident shareholders entered in Shareholder Information > State Information)
1. Open Arizona > Other
2. Open section 1 - Arizona Composite Basic Data
3. Input in the line titled Composite processing code - line 1 'Include N/R individuals on STK-1'
4. Open federal tab Shareholder > Shareholder Information
5. Click on shareholder number or name on the summary sheet
7. Click Detail button at the top of the worksheet
8. Open worksheet 5 - State Information
9. Input in box titled State Code 'AZ' to reference this information to Arizona
10. Input in the line titled Composite or withholding code 'Composite'.
11. Input in the line titled State Use an 'X' to indicate the shareholder waives his right to claim all applicable exemptions and deductions.
12. If shareholder does not waive his right then additional input must be made on worksheet 5 - State Information:
- Remove the 'X' from State Use
- Entity Type
- Date 2 - Tax year end
- Amount 1 - Number of Age 65/Over Exemptions
- Amount 2 - Number of Blindness Exemptions
- Amount 3 - Number of Dependent Exemptions
- Amount 4 - Federal Adjusted Gross Income
13. Repeat steps 6 through 12 for each nonresident shareholder (after returning to the summary sheet by clicking on the Summary button at the top of worksheet 1 - General). You can also advance to the next shareholder by using the advance arrows at the top of worksheet 1 - General.
Method 3 (Includes all nonresident shareholders except those entered in Shareholder Information | State Information)
1. Open Arizona > Other
2. Open section 1 - Arizona Composite Basic Data
3. Input in the line titled Composite processing code - line 1 'Exclude N/R individuals on STK-1'
4. Open federal Shareholder > Shareholder Information
5. Input Shareholder information the same as Method 2, steps 5 through 10, except include only those you want to exclude from the 140NR
NOTE: Arizona will not complete a composite return unless ten shareholders are participating.
To see the solution in interview, click here
Solution Id | 000189494/How-do-I-get-an-Arizona-composite-Form-140NR-for-an-1120S-return-using-worksheet-view |
---|---|
Direct Link |