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Screens

Screen HIRent - Hawaii Rent and Royalty Properties (1040)

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Overview

Use this screen to complete the Hawaii general excise / use tax portions of Form N-11. Federal Schedule E information automatically transfers to the applicable fields.

General Information

UltraTax CS uses information in this section to complete portions of Form N-11 or N-15.

Income and Expenses

For all returns,
Total Sources
 calculations always include 100 percent of income and expenses entered in federal Screen Rent. For part-year and nonresident returns, activities with postal code
HI
 that are not allocated using the state allocation spreadsheet include 100 percent of income and expenses in the Hawaii Sources calculations; activities with any other postal code exclude all income and expenses for the Hawaii Sources calculations. When you enter data into the state allocation spreadsheet, Hawaii Sources amounts are calculated by multiplying the total income and total expenses by the amount in the
Percent of federal allocated to state
 field entered in federal Screen St CO with postal code
HS
 (Hawaii Source). Blank
HS
 screen amounts default to
HI
 screen amounts.
Expense adjustment
Expense adjustments made in this field are reported on the Hawaii Reconciliation Report of Business, Rental, Farm, and Farm Rental Activities. Differing expenses, depreciation, etc., for business units are reported as an addition or subtraction on the Hawaii return.
Prior year Section 179 / … / Recomputed Section 280F
Information appears in the shaded fields from data entered in federal Screen Rent and in the asset module. Use the
Force
 fields to force an amount different than the calculated amount appearing in the shaded default fields.

Passive Activity and Other Information

Information that appears in this section automatically transferred to this input screen from federal Screens Rent-2 and St CO.
Operating / … / Section 179 carryover
When
Total Sources
 state-specific carryover information is available for proforma, the information is proforma’d to the corresponding federal input screen for the activity. The information is federal-to-state transferred to the
Total Sources
 fields. When Hawaii source carryover information is available for proforma, the information is proforma’d to the
Hawaii Sources
 fields.
Hawaii Sources
 fields with no data are assumed to be zero. The calculation does not default to the
Total Sources
 amounts. The
Hawaii Sources
 fields are used to calculate the part-year and nonresident returns only.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Hawaii

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