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Screen OHDepr2 - Ohio Other Depreciation Adjustments (1040)
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Six Sixths Adjustments for Prior Depreciation and Sec 179
Amounts entered in this section are used to calculate the unallowable depreciation from the federal 1040 and OH Schedule of Credits, line 26. Enter only the pass-through subtraction not already included in the adjustments for prior-federal depreciation and section 179 on this screen.
Total Taxpayer / Total Spouse Addback
Enter the amount of the prior-year add back; this is used to calculate the current-year subtraction amount.
note
These amounts are the 6/6 bonus depreciation add-backs from previous years.
Adjustments for State Differences in Depreciation
If eligible for 2/3 depr treatment, go to
Fed Business Asset
tab. Select Setup
, Activity
, OH Addback
, then select Qualifies for 2/3
addback from the dropdown list. If no selection made, defaults to Qualifies for 5/6 addback. If the addback applies to all activities and assets in the return, mark OH addback value applies to all activities
checkbox.No depreciation addback required
Mark
No depreciation addback required
if the taxpayer isn't required to addback any bonus depreciation expenses, or section 179 expense to the Ohio return. This field overrides any calculated add back amounts to zero (0).2/3 of bonus depreciation: Calculated
UltraTax CS calculates these amounts based on data entered in the asset module. These amounts are equal to 2/3 of the bonus depreciation claimed on all activities as reported on federal Form 4562. These amounts are used to calculate the Ohio federal depreciation addition on the Ohio Enhanced Depreciation Adjustment Worksheet.
2/3 of bonus depreciation: Force
Use the
Force
fields to enter 2/3 of federal bonus depreciation if you're not using the asset module.Depreciation addition: Calculated
By default, all depreciation additions from pass through entities entered on the federal
K1-St
screen, Depreciation addition
(Ohio 2/3) field, are reported on this OHDepr2
screen, Depreciation addition: Calculated Amounts: Total Taxpayer
and Total Spouse
fields.Depreciation addition: Force
Use these
Force
fields to adjust any amount of pass through depreciation addition that qualifies for the 2/3 treatment.Section 179 expense
UltraTax CS calculates the total amount of section 179 expense elected from all non-pass-through activities with assets entered in the asset module. If necessary, the amount is limited on the Ohio Enhanced Depreciation Adjustment Worksheet. Use the
Force
fields to override the calculated amount, or to account for amounts not in the asset module.Section 179 expense from K-1’s: Calculated
UltraTax CS calculates this number from
State if different, Section 179 expense deduction
in the federal K1-3
screen and the entire amount is reported on the OHDepr2
screen. The amount entered in the field should be the portion of the amount of section 179 expense that would be permitted for the partner/shareholder under the 2/3 addback.Section 179 expense from K-1’s: Force
An adjustment to the amount that calculated on this screen should be made by entering the amount in the Force Total Taxpayer and Total Spouse fields. Amounts are added into the Ohio Enhanced Depreciation Adjustment Worksheet to calculate the current-year add back.
Maximum Section 179 expense (Force)
UltraTax CS calculates the Ohio section 179 maximum expense permitted. Expenses from pass-though entities and amounts utilized on the Ohio Enhanced Depreciation Adjustment Worksheet (2/3 addition) may further affect the expense limitation; use this field to force an amount different from the calculated amount.
Part-year and Nonresident Allocation of State Differences
Amounts entered in this section calculate OH AGI not earned in Ohio for OH Schedule of Credits, line 26. To enter a separate calculation of the portion of OH AGI not earned or received in Ohio, use
Adjusted gross income not from Ohio sources (Force)
in the OHPYNR
screen. An amount entered there is used instead of any calculated amount.2/3 bonus depreciation
UltraTax CS automatically calculates this amount based on data entered in the asset module. Use the
Force
field to enter 2/3 of Ohio source bonus depreciation if you're not using the asset module or if the amount differs from the calculated amount.Depreciation addition
Amounts entered in the federal
K1-St
screen, Depreciation addition
field, the add back amount (5/6 amount) of bonus depreciation and section 179 expense passed from the entity, are reported only on the OHDepr
screen. Use the Force
field to enter the 2/3 Ohio source amount, and adjust the 5/6 amount by using the corresponding fields on the OHDepr
screen.Section 179 expense
UltraTax CS automatically calculates this amount for Ohio activities with assets entered in the asset module. Use the
Force
field to enter the amount of Ohio source section 179 expense if you're not using the asset module or want to override the calculated amount.Section 179 expense from K-1’s: Calculated Ohio Source Amount
K-1’s with an OH postal code get an amount from
State if different, Section 179 expense deduction
in the federal K1-3
screen. The amount entered in the field should be that portion of the amount of section 179 expense that would be permitted for the partner/shareholder under Ohio rules for the 2/3 add back.Adjustments for Prior Federal Depreciation and Section 179
Amounts in this section are used to calculate Ohio AGI not earned in Ohio. To enter a separate calculation of the portion of Ohio AGI not earned or received in Ohio, use
Adjusted gross income not from Ohio sources (Force)
in the OHPYNR
screen. An amount entered there is used instead of any calculated amount.Ohio Source Amount
For part-year and nonresident returns, enter the portion of the total add-back amount allocable to Ohio sources. This is used to calculate the nonresident and part-year credit on Ohio Form ITNRC.
Addback Amount
Amounts calculated in prior-year versions of UltraTax CS proforma to these fields. If UltraTax CS wasn't used to prepare the prior-year return, enter the amount of the prior-year add back. These amounts are the 2/3 bonus depreciation add-backs from previous years and are used to calculate the current-year subtractions amount.
Pass-through subtraction
Use this section to enter
only
the pass-through depreciation subtraction not already included in the previous section for Adjustments for Prior Federal Depreciation and Section 179.Depreciation subtraction: Calculated
In
Depreciation subtraction (Ohio 2/3)
on the federal K1-St
screen, enter the deduction amount of bonus depreciation and section 179 expense passed from the entity to the partner/shareholder, as a positive number. This amount is used to adjust the current-year deduction on the Ohio Enhanced Depreciation Adjustment Worksheet.Depreciation subtraction: Force
Use the
Force
fields to override the calculated amount to zero if the subtraction already is calculated on the worksheet from a prior-year add back amount, or to enter a different amount.Depreciation subtraction allocated to Ohio: Calculated
In the
Depreciation subtraction (Ohio 2/3)
field on the federal K1-St
screen, enter the deduction amount of bonus depreciation and section 179 expense passed from the entity to the partner/shareholder, as a positive number. This amount is used to adjust the current-year deduction on the Ohio Enhanced Depreciation Adjustment Worksheet.Depreciation subtraction allocated to Ohio: Force
Use the
Force
field to override the calculated amount to zero if the subtraction already is calculated on the worksheet from a prior-year add back amount, or to enter a different amount.