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Screen MDDepr - Maryland Depreciation and Other Decoupling Adjustments (1040)

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Overview

Use this screen to complete Form 500DM to indicate  decoupling modifications to calculate Maryland adjusted gross income.

Adjustments for State Differences in Depreciation

Federal depreciation (Force)
UltraTax CS automatically calculates this amount based on data entered in the asset module. Use the
Force
 field to enter the amount of federal depreciation if you aren't using the asset module.
This amount is calculated on the Maryland Depreciation Reconciliation Worksheet based on data from Form 4562 for all activities except Form 2106 and Schedule A.
State depreciation (Force)
UltraTax CS automatically calculates this amount based on data entered in the asset module. Use the
Force
 field to enter the amount if you aren't using the asset module.

Other Decoupling Modifications

Federal return as filed
Use this field to enter the net operating loss deduction reported on the filed federal return, only if the carryover is based on the special 5-year carryback period. Enter a positive amount.
Federal return without Section 168(k) provisions
Use this field to enter the net operating loss deduction only if the carryover is based on the special 5-year carryback period. Enter a positive amount.
Net decoupling modifications
UltraTax CS displays the amount of decoupling modifications from pass-through entities. The calculated amount is the sum of amounts entered in the
Depreciation addition
,
Depreciation subtraction
, and
Cancellation of debt subtraction
 fields in the federal  K1-St screen for activities with a postal code of
MD
. If any amounts need adjusting, complete the data entry in the federal  K1-St screen. The
Net decoupling modifications
 taxpayer and spouse fields are reported on Forms 500DM and 502SU for code
DP
.
Disposition adjustment (Force)
Use this field to force the amount attributable to the State of Maryland. UltraTax/1040-MD automatically calculates the disposition adjustment for Form 500DM on assets entered in the asset module for activities with a postal code of
MD
.
Passive losses
Use this field to enter the amount of any change to allowable passive losses.
Itemized deductions (Force)
Use this field to
Force
 the amount of the net change to Maryland itemized deductions. UltraTax/1040-MD automatically calculates the adjustment to Maryland itemized deductions on the Maryland Itemized Deduction Worksheet for Form 500DM based on full-year residency.
Other related changes
Enter any other items that change due to differences in federal and state depreciation.
Allocation percentage of modification to taxpayer (Force)
Use this field to
Force
 the percentage of the net modification to allocate to the taxpayer. UltraTax/1040-MD automatically splits the net modification equally to the taxpayer and spouse on jointly filed returns.
Original issue discount included in federal return except for pass-through entities / … / Discharge of business indebtedness included in federal return except for pass-through
Use these fields for any discharge of indebtedness and any related original issue discount interest that was originally deferred on the federal return in prior years and was reported on Schedules C, E (Page 1), F and Form 4835. Form 500DM uses these amounts to reduce Maryland adjusted gross income.

Section 179 Expense

Use this section to edit amounts calculated on Form 4562 due to differences between federal and state section 179 limits.
Amounts in this section default to the values reported on federal Form 4562.

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