Screen RI4562 - Rhode Island Depreciation and Amortization (1040)

Overview

Use this screen to calculate adjustments to federal AGI. All depreciation and amortization information transfers directly into RI4562 Screen from the UltraTax CS asset module and then transfers to the relevant forms. All information for all assets transfers from the Hawaii state tax treatment in the asset module.
UltraTax CS calculates Form 4562 (RI Version), Rhode Island Recalculated Federal Form 4562, with respect to forms and units. UltraTax CS calculates a separate Form 4562 (RI Version) for each activity. Form 4562 (RI Version), calculated with respect to activities subject to Rhode Island tax, prints when the form indicates a difference between federal and Rhode Island depreciation.
  • This screen may not be applicable to each client. UltraTax CS provides a global option regarding the entry of asset information. This screen is not applicable when the asset module is selected. (If there is a checkmark next to the Enter Asset Detail command in the Client Properties, Advanced Properties, Enter Asset Detail tab, then the asset module is in use for this client.) When the asset module is selected, the tab for this input screen does not appear in UltraTax CS.
  • If the asset module is not used, this input screen must be used to enter depreciation or amortization amounts on the relevant form(s).
  • It is highly recommended that all asset information be entered through the Asset tab. This data entry method ensures that Rhode Island depreciation information is transferred properly.

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