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Screen CAEZ-2 - California Enterprise Zone Credits - Income (1040)
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Overview
Use this screen to enter information required to calculate Form 3805Z.
See the overview for the CAEZ Screen for information required to calculate Form 3805Z credits.
Apportionment
Use this section to enter information required to apportion income for businesses with net income from sources within and outside the Enterprise Zone. Use the fields in this section to enter the information needed to calculate the Form 3805Z worksheets for Income Apportionment. UltraTax CS prints a version of this worksheet as a nonsubmittable statement. Individual blank entries are assumed to be zero. When all fields are blank and the
Apportionment percentage (Force)
field is blank, the apportionment percentage defaults to 100 percent within the Enterprise Zone. The apportionment percentage calculated on the worksheet is included in the calculation of the worksheet for Income or Loss and on Form 3805Z, Page 1.note
Form 3805Z worksheets are available to review in the Not Required Statements by print previewing the return.
Apportionment percentage (Force)
An entry in this field forces the apportionment percentage for activity inside the zone. The percentage is used on Form 3805Z, Page 1, and on the related worksheet for Income or Loss.
Enterprise Zone Income or Loss
Use this section to enter information required to calculate the Form 3805Z worksheet for Income or Loss. UltraTax CS automatically prints a regular tax and Alternative Minimum Tax version of the worksheets, as needed.
Individual wages (If not %100)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
UltraTax CS prints a version of the worksheet as a nonsubmittable statement when an entry is made in this statement.
Individual business expenses (If not %100)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
Use these fields to enter expenses incurred in the Enterprise Zone to calculate Form 3805Z worksheet for Income or Loss. Use State Use code
3
on the federal 2106 Screen to make qualifying expenses available for selection in this statement. You may also enter applicable expenses directly.UltraTax CS prints a version of this worksheet as a nonsubmittable statement when an entry is made in this statement dialog.
Pass-through income or loss
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
In the statement, use the fieldview to select the K-1 schedule and Unit Number of each federal activity located in the Enterprise Zone. Enter the distributive share of income or loss apportioned to the Enterprise Zone from Schedule K-1 to calculate the applicable worksheet. UltraTax CS prints a version of this worksheet as a nonsubmittable statement when an entry is made in this statement dialog.
Income or loss from Schedule C (Force)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
UltraTax CS defaults to include the taxable Schedule C income from activities listed in the
Activities located in the Enterprise Zone
statement dialog in the CAEZ Screen to calculate the Form 3805Z worksheet for Income or Loss. For resident returns, the taxable income from the California column of the Schedule CA Reconciliation, located in forms view in the Rec Bus folder, is included. For part-year or nonresident returns, the taxable income from the California Sources
column is included. The AMT version of the worksheet automatically adjusts the taxable income for AMT differences. To force a different amount per activity, enter the unit number of the activity and the force amounts in the statement dialog. When amounts are entered, blank AMT if different amounts default to regular tax amounts.Income or loss from Schedule E (Rentals) (Force)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
UltraTax CS defaults to include the taxable Schedule E, Page 1 income from activities listed in the
Activities located in the Enterprise Zone
statement dialog in the CAEZ Screen to calculate the Form 3805Z worksheet for Income or Loss. For resident returns, the taxable income from the California column of the Schedule CA Reconciliation, located in forms view in the Rec Bus folder, is included. For part-year or nonresident returns, the taxable income from the California Sources
column is included. The AMT version of the worksheet automatically adjusts the taxable income for AMT differences. To force a different amount per activity, enter the unit number of the activity and the force amounts in the statement dialog. When amounts are entered, blank AMT if different amounts default to regular tax amounts.Income or loss from Schedule F (Force)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
UltraTax CS defaults to include the taxable Schedule F income from activities listed in the
Activities located in the Enterprise Zone
statement dialog in the CAEZ Screen to calculate the Form 3805Z worksheet for Income or Loss. For resident returns, the taxable income from the California column of the Schedule CA Reconciliation, located in forms view in the Rec Bus folder, is included. For part-year or nonresident returns, the taxable income from the California Sources
column is included. The AMT version of the worksheet automatically adjusts the taxable income for AMT differences. To force a different amount per activity, enter the unit number of the activity and the force amounts in the statement dialog. When amounts are entered, blank AMT if different amounts default to regular tax amounts.Other business income or loss
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
Use this statement dialog to enter other business income or losses to be included in the calculation of Enterprise Zone income or loss to calculate the Form 3805Z worksheet for Income or Loss.
Income or loss from Schedule D
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
The gain or loss from items entered in the Screen CAInc
Sale of assets
statement dialog which identify the sale to a form and unit are automatically included accordingly in Schedule D income or loss on the Form 3805Z worksheet for Income or Loss. The AMT version of the worksheet uses the AMT gain or loss. Use this statement dialog to add any additional items that apply to the Enterprise Zone.note
Form 3805Z workhseets are available to preview in the Not Required Statements by print previewing the return.
Income or loss from Schedule D-1 (Force)
The Enterprise Zone hiring credit and sales or use tax credit are limited to the income tax attributable to income generated inside the Enterprise Zone, as calculated on Form 3805Z, Schedule Z, Part I.
The gain or loss from Schedule D-1 for activities entered in the
Activities located in Enterprise Zone
statement dialog in the CAEZ Screen are automatically included in Schedule D-1 income or loss to calculate the Form 3805Z worksheet for Income or Loss. The AMT version of the worksheet uses the AMT gain or loss. Detailed entry in this statement dialog overrides all default calculations. Blank AMT if different amounts default to regular tax amounts.