UltraTax CS Input Screens for Business Returns
UltraTax groups input screens into folders rather than numbering them. The ones a business balance sheet needs are in the Balance Sheet folder: Screen L and L-2 for Schedule L, Screen Mc for income reconciliation and retained earnings on an 1120, Screen Ms for the S corporation Schedule M-2, and Screen M1M2 for partnership capital. Screen A holds cost of goods sold, and the General folder holds the client level options.
- Folders
- Balance Sheet
- Screen L
| Trial balance account | UltraTax CS screen and field | Lands on |
|---|---|---|
| Balance sheet | Screen L, Balance Sheet folder | Schedule L |
| Balance sheet continued | Screen L-2. Retained earnings fields stay blank | Schedule L |
| Income reconciliation and retained earnings (1120) | Screen Mc, Balance Sheet folder | Schedules M-1 and M-2 |
| S corporation Schedule M-2 | Screen Ms, Balance Sheet folder | Schedule M-2, AAA columns |
| Partnership capital accounts | Screen M1M2, Balance Sheet folder | Schedule M-2 and K-1 item L |
| Cost of goods sold | Screen A | Form 1125-A |
| Capital account method (1065) | Screen K1Misc | Basis shown in item L |
| Partner allocations | Screen SepK, with the Ptr Alloc button | Each K-1 |
| Rent and royalty, guaranteed payments | Screen Rent | Form 8825 line 15 |
| Shareholder detail and basis | Shareholder Information, Other Info tab | Shareholder basis worksheet |
| Client level print options | General folder, 1120 tab | Suppressions and data sharing |
| Depreciation | The asset module | Form 4562 |
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| Acct # | Account | Debit | Credit |
|---|---|---|---|
| 1000 | Cash (the account this page is about) | 42,800.00 | |
| 1200 | Accounts receivable | 68,500.00 | |
| 1300 | Inventory | 55,000.00 | |
| 1500 | Equipment | 145,000.00 | |
| 1510 | Accumulated depreciation | 47,500.00 | |
| 2000 | Accounts payable | 28,400.00 | |
| 2100 | Accrued expenses | 9,200.00 | |
| 2400 | Notes payable | 92,000.00 | |
| 2450 | Due to shareholder | 15,000.00 | |
| 3000 | Common stock | 10,000.00 | |
| 3900 | Retained earnings | 86,300.00 | |
| 3950 | Shareholder distributions | 52,000.00 | |
| 4000 | Gross receipts | 612,000.00 | |
| 5000 | Cost of goods sold | 318,000.00 | |
| 6000 | Salaries and wages | 88,000.00 | |
| 6050 | Officer compensation | 72,000.00 | |
| 6300 | Depreciation expense | 21,500.00 | |
| 6900 | Other operating expenses | 37,600.00 | |
| Total | 900,400.00 | 900,400.00 |
Folders and names, not numbers
UltraTax does not number its screens the way Lacerte does. Input is grouped into folders, and screens carry names: L, L-2, Mc, Ms, M1M2, A, Rent, SepK, K1Misc, OthInfo.
That is easier to learn and harder to look up, because a question phrased as "what screen is the balance sheet" has the answer "Screen L, in the Balance Sheet folder" rather than a number you can type.
The Tax Subject Index is the shortcut worth knowing
For any form whose input location you are unsure of: Help, Tax Subject Index, then the Forms tab, then double click the form. It takes you to the input screen for that form.
That is faster than hunting through folders, and it works for the forms that come up once a year, which are exactly the ones nobody remembers.
What lives where
The Balance Sheet folder holds the balance sheet and the reconciliation schedules, and the distinctions between the M screens matter:
- Screen Mc is Income Reconciliation and Retained Earnings on an 1120, carrying the M-1 reconciliation and the retained earnings roll forward
- Screen Ms is the S corporation Schedule M-2, with the accumulated adjustments account columns, and it holds the option to suppress printing of Schedule M-2
- Screen M1M2 is the partnership equivalent, with the Analysis of Partners' Capital Accounts
Screen L-2 is the one to leave mostly alone: the retained earnings fields there should stay blank so Schedule M-2 drives the ending figure.
Where the equity work actually happens
Shareholder level detail is not on a screen at all. It is in the Shareholder Information window, with basis in the Shareholder Basis dialog reached from the Other Info tab, and distributions shown per shareholder in the same window.
On a 1065, the capital account method is set on Screen K1Misc, and allocations are made with the Ptr Alloc button on Screen SepK.
Client level options are in the General folder
The 1120 tab in the General folder carries the suppressions and data sharing settings. If a basis worksheet is not appearing, or basis is not sharing to the 1040 client, that is the first place to look rather than the input screens.
Tax return treatment
| Form | Line |
|---|---|
| Form 1120 | Screens L, L-2, Mc, A |
| Form 1120S | Screens L, L-2, Ms, A |
| Form 1065 | Screens L, M1M2, K1Misc, SepK, Rent |
Common questions
What screen is the balance sheet in UltraTax CS?
Screen L, in the Balance Sheet folder, continued on Screen L-2. UltraTax names screens rather than numbering them, so the balance sheet is found by folder and name rather than by a screen number.
What is the difference between Screen Mc, Screen Ms and Screen M1M2?
Screen Mc is Income Reconciliation and Retained Earnings on an 1120. Screen Ms is the S corporation Schedule M-2 with the accumulated adjustments account columns. Screen M1M2 is the partnership version, holding the Analysis of Partners Capital Accounts.
How do I find the input screen for a specific form?
Help, Tax Subject Index, the Forms tab, then double click the form. It takes you to the input screen for that form, which is quicker than looking through folders for something you only prepare once a year.
Where is shareholder level detail entered?
In the Shareholder Information window rather than on an input screen. Basis is in the Shareholder Basis dialog, reached from the Other Info tab, and each shareholder distributions and pro rata share appear in the same window.
Related answers
Go deeper
This page is the short answer. These articles work through the same ground in detail.
Last reviewed October 18, 2026.