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Screen HIK1T-3 - Hawaii Schedule K-1, 1041 - PAL and Carryovers (1040)

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Overview

Use this screen to calculate the Hawaii return. Amounts that appear in the
HIK1T-3
 screen are automatically transferred from the federal
K1T-3
 screen or the Multistate Allocation Spreadsheet. The data transferred depends on the residency status of the return and the method of federal data entry.
For resident returns, Hawaii
State, if different
 amounts are transferred to the
Total Sources
 fields if present. If there are no Hawaii
State, if different
 amounts entered, the federal amounts transfers.
HI Sources
 fields aren't enabled to a resident return.
For part-year and nonresident returns, when K1 data is entered without using the Multistate Allocation Spreadsheet, Hawaii
State, if different
 amounts transfer to the
HI Sources
 fields if present. Blank
State, if different
 fields default to transferring the federal information to both columns.
For K1 data that has been entered using the Multistate Allocation Spreadsheet, Hawaii
State, if different
 amounts transfer to the
HI Sources
 fields. Blank
State, if different
 amounts default to transferring the federal information. Federal amounts always transfer to the
Total sources
 fields. Be sure to review the
Total Sources
 fields to report the amounts from Hawaii Schedule K-1, Total amounts, in the
Total Sources
 fields.

Passive Activity and Other Information

The information in this section is automatically transferred to this input screen from the federal
K1T-3
 and
K1T-St
 screens.
Operating / Section 179 carryover (Grantor trust only)
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 and transfers 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 doesn't default to the
Total Sources
 amounts. The
Hawaii Sources
 fields are used to calculate part-year and nonresident returns only.

This article applies to:

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

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