Screen ALRent - Alabama Rent and Royalty Property (1040)

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Overview

The
ALRent
screen is virtually identical to the federal
Rent
screen, and the information that appears in this screen is automatically transferred from the federal
Rent
screen. Enter any state-related law differences and details in this screen. Use the
ALRent
screen to complete the Schedule E for resident and part-year tax returns and the recalculated Alabama version of federal Schedule E for nonresident tax returns. UltraTax CS transfers information from the Alabama Schedule E, Part 1 to Form 40, Page 2, Part 1 for resident and part-year tax returns. For nonresident tax returns, UltraTax CS transfers information from the Alabama version of federal Schedule E to the nonresident Alabama Schedule E, Part I.

Expenses

Depreciation (Force)
If you use the asset module, UltraTax CS calculates the depreciation expense for each activity. Use this field to override the calculated depreciation amount. However, if the calculated amount is incorrect, you'll need to change the amount in the asset module to ensure that the state version(s) of the form(s) are correct.

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