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Screen MIHHRes - Michigan Household Resources (1040)
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Overview
Use this screen to complete the Household Resources section of Forms MI-1040CR or MI-1040CR-2, and MI-1040CR-7.
Income
Entries made in this section are combined with amounts transferred directly from UltraTax/1040 to calculate household resources on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7.
Wages (Force)
Enter an amount to override the calculated amount. For resident returns, all wage income entered in UltraTax CS automatically transfers to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency according to your postal code entries in federal W2 Screen.
Interest and dividends (Force)
Enter an amount to override the calculated amount. For resident returns, all taxable and nontaxable interest and dividends entered in UltraTax/1040 transfers automatically to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency according to your postal code entries in federal B&D, K1, and K1T Screens.
Net business and farm income (Force)
Enter an amount to override the calculated amount. UltraTax CS automatically transfers income from federal Schedules C and F and ordinary income from federal Form 4797 to the Net business and farm income line on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, the Form 4797 component of household income transfers from the 4797 Gain / Loss fields on the Michigan Apportioned AGI Worksheet.
Net royalty and rent income (Force)
Enter an amount if you want to override the calculated amount. For resident returns, UltraTax CS automatically transfers rent and royalty income from federal Form 1040 to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency according to your postal code entries in federal E Screen.
Retirement benefits (Force)
If this statement dialog is blank, total retirement distributions (including IRA / SEP distributions) transfer automatically from UltraTax/1040 to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. You can enter detail in the statement dialog if you choose to override the federal amounts transferred.
Roth distribution in excess of contributions (Force)
Enter the name of the financial institution and the amount of distribution from a Roth IRA that exceeds the total contributions to the Roth IRA in this statement dialog.
Capital gains less capital losses (Force)
Enter an amount to override the calculated amount. For resident returns, UltraTax CS automatically transfers net capital gain or loss from federal Form 1040. For part-year residents, net capital gain or loss for household resources transfers from the state amounts in the Capital Gain / Loss fields on the Michigan Apportioned AGI Worksheet.
Alimony and other taxable (Force)
Enter data in this statement dialog to override transferred amounts. UltraTax CS automatically transfers gambling income from federal W2G Screen, alimony received, and other income from the
Other income
statement dialog in federal Income Screen to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7.note
UltraTax CS automatically reduces gambling and prizes entered in federal W2-G Screen and with federal code
1
or 2
in the Other income
statement dialog in federal Income Screen by $300.For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency according to your postal code entries in the aforementioned source input screens. Note that if you leave the
Postal code
fields blank at the federal level, UltraTax CS assumes that the amounts are not from a Michigan source. Social security and railroad retirement (Force)
Social Security and Tier 1 railroad retirement benefits transfer from federal SSA-1099 Screen to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. UltraTax CS automatically subtracts Medicare premium amounts entered in federal SSA-1099 Screen from the Social Security and Tier 1 railroad benefit components of household income. Enter data in this statement dialog to override the calculated amount. A force entry may be used to adjust the total Social Security benefits to include amounts received by minor children in the household.
Unemployment compensation (Force)
Enter an amount to override the calculated amount. For resident returns, UltraTax CS automatically transfers unemployment compensation from federal Form 1040, to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency according to your postal code entries in the
Unemployment compensation
statement dialog in federal Income Screen.Gifts or expenses paid on your behalf
Enter income items such as gifts of cash, merchandise, or expenses paid on the taxpayer’s behalf. The total amount entered will be reduced by $300 when entered on the Gifts or expenses paid on your behalf line of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7.
Other nontaxable income
Amounts entered in this statement dialog transfer to the Other nontaxable income line on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. Additional items (excluded DCB and section 125 excluded income) are added at print time.
FIP and other DHS benefits
Enter all assistance benefits to be included on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. An entry here causes the Michigan FIP Benefits Worksheet to calculate.
Adjustments
Entries made in this section are combined with amounts transferred directly from UltraTax/1040 to calculate adjustments to income on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7.
Additional other adjustments
UltraTax CS calculates other adjustments for household resources from federal amounts. Enter an amount in the statement dialog attached to this field if you want to add an item to the calculated amounts.
Other adjustments (Force)
Enter data in this statement dialog to override the calculated amounts. UltraTax CS automatically transfers other adjustments from the Michigan Apportioned AGI Worksheet to the Household Resources section of Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7. For part-year residents, UltraTax CS transfers amounts attributed to the period of Michigan residency, according to your postal code entries, from the Michigan Apportioned AGI Worksheet.
Medical insurance / HMO premiums (Force)
For resident returns, UltraTax CS automatically transfers medical insurance premiums included on federal Schedule A, line 1. For part-year returns, enter the amount of medical insurance premium payments attributed to the period of Michigan residency, less any self-employment health insurance deduction amounts included on the Medical insurance or HMO premiums you paid for you and your family line on Forms MI-1040CR, MI-1040CR-2, and MI-1040CR-7.