Screen DCUBRnt2 - District of Columbia Franchise Rent and Royalty (1040)

Overview

UltraTax CS uses the information in this screen to complete portions of Form D-30.
You can't enter information in this field on the DCUBRnt2 screen. Remove the
X
from the
Exclude activity from calculation as an unincorporated business franchise activity
field on the DCRent screen.

Rent and Royalty - Expenses

UltraTax CS calculates expense amounts from federal Schedule E and uses them to complete Form D-30. UltraTax CS multiplies the gross amounts transferred from the federal Rent screen by the business use percent from the Rent and Royalty Property - General Information section of the DCUBRent screen or the percentage fields next to each expense. The
Net Amount
field is used to complete Form D-30.
The transferred amount is already adjusted for business use percent if less than 100 percent is used.
Amounts entered in the
Mortgage interest
,
Other mortgage interest
, and
Other Interest
fields in federal Screen Rent are reported on Form D-30, Schedule E. The unincorporated business tax return requires additional information about the entity the interest was paid to. Use the statement window to enter the name and address required for Form D-30, Schedule E.
Amounts entered in the
Taxes
statement window in the federal Rent screen attributed to state and local income or franchise taxes don't transfer to this statement dialog.
This amount transfers from federal Schedule E prior to the ownership percent being applied. This amount also includes any depletion calculated on the Oil/Gas Well Schedules reported on federal Schedule E. The amount transferred is multiplied by the ownership percentage before being included on Form D-30, Schedule G.
These amounts transfer from the federal OGCost and OGWell screens, if licensed. Only the ownership percent in the DCUBRent screen is used to adjust amounts, not the business use percent.
Oil and gas expenses default to being reported on Form D-30, Schedule G, Other Allowable Deductions. Use this field to report these expenses as other costs on Form D-30, Schedule A, Cost of Goods Sold.
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