due to DRO limits and Minimum Gain requirements can now be more easily
tracked and identified in PSHIP using the new PSHIP/REALLOC report.
REALLOC displays partner-level summary reports along with a number of
additional detail proof reports, including a category and type
each annual allocation and an interpreted amount of reallocation
associated with each ABC stream. The report supports income holdback
percentages and above-the-line reallocations of non-production income
as specified by section 120 questions (see below).
The report also provides a
detail of reallocation due to Minimum Gain protection, if this feature
is present in the file.
is available under the standard list of PSHIP reports, and is
included as a selected report in PSHIP/REPORTSET.
120: PSHIP Flags
offers many flags that modify our default partnership structuring
rules. These flags have previously been required as inputs to the "User
Definitions" question (1.3)
Now PSHIP offers section 120 to allow
easier flag discovery and activation. Section 120 is
available in either newly created files,
or files that have been updated using the PSHIP/UPDATE macro.
of available PSHIP flags and their associated section 120 question
number, run the PSHIP/FLAGS report.
Taxable Input Method in ABC
questions controlling Deficit Restoration Obligations (1.709 and 1.809
for Investor and Sponsor, respectively) now accept limited compound
inputs. A nominal dollar amount may precede a percentage of project
FMV or partner equity. For instance, "100,000.00 + 30%e" in
question 1.709 would be interpreted as a DRO limit of $100,000.00 plus
30% of the investor's equity.
new set of questions allow more flexibility with percent taxable inputs
income or loss items associated with an ABC stream.
Percentages can now be input on a monthly schedule rather
than on a fiscal year schedule. This new mode allows
refinement of tax allocation within the same fiscal year, and is most
commonly used in partnership alternatives created in a PSHIP file.
Split in PSHIP
for contributed property basis step-up calculations, a new PSHIP
question (2.702) can be used to override the portion of an investment
that is deemed as a sale to the
investor. When this question is active, the portion of FMV
depreciation is no longer computed based upon the purchase split
(2.701). This new option allows the user to specify an amount that
differs from the actual capital outflow, allowing separation of the
investor's cash investment from the amount used to compute partnership