Federal Set-Up
For CCH purposes, when creating a Consolidated Return what is the minimum number of returns required?
What is three?
One Top Con
One Parent
At least One Sub
When e-filing a Consolidated Return name two things that have to be true for every return within the group that is e-filing?
What is every return must be qualified?
What is e-filing needs to be turned on in every level?
What levels need to have input in Interview Form 1 Line 91?
What is the Parent and all Subsidiary returns?
Where does the Texas Affiliate Return get filed from?
What is the reporting entity?
When filing a Mixed Group Return, what code should be used for the Sub-Consolidated 1120-PC member?
What is 1120-PC Member?
When working in Interview Form CC-1, what Client ID should be entered for Company Number 1?
What is no Client ID is entered?
When exporting an 1120 Consolidated Return what is the biggest difference you see in the Consolidated Return export versus a normal 1120 return when exporting?
What is the Export Tree?
What level should membership information be entered in when working with a standard 1120 Consolidated Return.
What is in the Top Consolidated level?
When working with a NY Combined Return what level does not generate the Form CT-3-A/BC?
What is the Parent?
How many different methods are there when trying to make Eliminations in a Consolidated Return? Can you name them?
What are three methods?
Elimination Company
Direct Entry
Journal Entry
When adding an Elimination Company to the group, what code should be used under Basic Data > Line 47?
What is Elimination Company?
There is an option in the software that will push the EF options selected at the consolidated return to the parent and subsidiary returns, where is that located in worksheet view?
What is General > Electron Filing > Section 1 General, Line 27?
Client is trying to enter an NOL but unsure of what level to input it in, where do NOL's get entered for Federal purposes and 98% of states?
What is the level the NOL was generated in, absolutely not in the consolidated level though?
When filing an AL Standalone Return, where should this be filed out of?
What is the Consolidated level?
Client is getting an adjustment that they are not expecting to see, they have already checked the option to suppress automatic adjustments. What could be causing this?
What is they probably have Schedule M-1 and M-3 active in the members?
If M-3 is active in one members return, then it has to be active in all levels.
Client has called in because they are trying to set up a Consolidated Return for an 1120-F but it is not pulling the members as expected, why?
What is the software does not support Consolidated Returns for an 1120-F return type.
This is True or False, when e-filing a Federal Consolidated Return you will need to go to the ELF Status Site and release each return within the group.
What is False?
Where is depreciation entered if using Totals?
Hint: Two possible answers for this one.
What is in the level that the depreciation is active in or at the top only if wanting to only input one amount for all members?
If entered at the top they will also want to check the box under Consolidated Options, Line 12.
Client is trying to file a Mixed Group NJ Return, they are not able to get it to qualify....why not?
What is Mixed Group state returns are not support in the software?
I have entered information for the Form 5471 to produce in the lower level returns, but nothing is flowing to the Consolidated Return on the 5471.
What is uncheck the option to suppress the 5471 in lower level returns, this is found under Consolidated > Options > Line 29.
What is considered best practice when adding Client ID's/Members to the CC-1?
What is use the Lookup Tool, do not enter the Client ID's manually?
What is best practice when trying to clear diagnostic code 40437.
What is go into each return in the group, make a simple change like remove a number from the phone number then put it back and recalculate the return? Verify correct coding in Basic Data as well, but we are assuming that has already been done in this case.
Where does the input need be entered when generating the Form 8990?
What is in all levels.
See notes: The only information accumulated from your separate company returns is the "Activities Subject to Section 163(j) " input at the bottom of this worksheet. This information at the bottom is carryover input. Everything else should be entered in the top consolidated level.
What are the two methods that can be used for a CA Combined Return?
What is California Method and Federal Method?
I have rolled my Consolidated Return forward to the next year, but my lower level returns are showing up as inactive with a Red circle on them in the Return Group Tab, why?
What is every member in the group has to be rolled forward to the next year?