Screen KYC4835 - Kentucky City Farm Rental Income (1040)

Show all hidden content

Overview

Use this screen to calculate farm rental income for cities available with UltraTax/1040-KY.

General Information

Information in this section is transferred from the federal screens on a unit-by-unit basis. Information for the income, payment and deduction fields is transferred from the federal
4835
screen and is before at-risk and passive loss limitations.
Lexington - Fayette account number / Form OL-S account number
Use these fields to enter the account numbers associated with this activity.
OL-S/OL-D additional tax districts, account numbers, and apportionment
Use this statement window to enter additional tax districts or account numbers for this activity, along with apportionment information. UltraTax CS will generate a separate unit of Form OL-S/OL-D for each unique tax district/account number combination, and use the gross receipts within district / gross payroll within district entered here to complete Form OL-S/OL-D, Section 2.
If one or more tax districts are apportioned using this statement window, all tax districts will need to be apportioned using this statement window, including the Form OL-S/OL-D tax district shown in the
City
field of the
KYC4835
screen.
Enter apportionment information for Lexington in the
Farm Rental Apportionment
section of this screen.

Additions

Use this section to provide city-specific information not entered elsewhere in UltraTax CS.

Subtractions

Use this section to provide city-specific information not entered elsewhere in UltraTax CS.

Farm Rental Apportionment

Allocation applies to net profit or loss as shown, or allocation by amount if present.
Gross receipts
Enter the amount of gross receipts that are attributable to each location. UltraTax CS uses this data to generate the Lexington Urban - Business Apportionment Worksheets and to complete the Allocation sections of Form 228, Lexington-Fayette Net Profits License Fee Return and Form 228-S, Board of Education of Fayette County Net Profits.
Payroll
Enter the amount of gross payroll that is attributable to each location. UltraTax CS uses this data to generate the Lexington Urban - Business Apportionment Worksheets and to complete the Allocation sections of Forms 228 and 228-S.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close