Screen ALK1T - Alabama Schedule K-1 - Estates and Trusts (1040)

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Overview

The information that appears in this screen is automatically transferred from the federal
K1T
screen. Enter any state-related law differences and details in this screen. Use this screen to complete Schedule E, Part II, Schedule A; Forms 40 and 40NR, Page 2; and Form NOL-85, line 7f.

Income and Directly Allocable Deductions

Income from all sources
Schedule K-1T income from all sources defaults to the Alabama income amount or, if the postal code is other than
AL
, the default income is based on the data entered in the
Income
and
Directly Allocable Deductions
section in this screen. Use this field to force an amount other than the calculated amount. Data in this field appears in column B of the nonresident Alabama Schedule E, Part II.

Grantor Trust Income, Expenses, and Other Information

Section 179 carryover
This field is used when there are differences between the federal and Alabama calculation of the Section 179 limitation. Enter last year's Section 179 carryover for this activity if different from the federal amount. For the current year, the Section 179 deduction is calculated based on Alabama income and any resulting carryover is automatically proforma'd to this field next year. This field applies to grantor trusts only.

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