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Federal input screens

Partner Data Entry > Depreciation Allocation dialog

Use this window to allocate the federal and state current depreciation and the AMT adjustment for an asset or group of assets.

Opening the Depreciation Allocation window

  1. Open the
    Asset List
     window.
  2. Select
    Setup
    , then
    1065 Allocation
    .
  3. Select
    Individually Allocated
     from
    Description
    , then select
    Edit
    .
  4. Choose
    Assets
     to open the
    Select Assets - Individually Allocated
     window.
  5. Choose
    Select
     to move the asset to the
    Assets
     selected pane, then select
    OK
    .
  6. Select
    Enter Special Allocations
    , select the asset, and select
    Continue
    .

Fields and buttons

Allocation scheme group box
UltraTax CS automatically marks the
Specially allocate
 checkbox and
Percentage
 for the allocation method.
  • US: <allocation name>
     uses the default federal allocation.
  • Percentage
     uses a single percentage column to specially allocate the depreciation to the partners.
  • Units
     uses a single unit column to specially allocate the depreciation to the partners.
  • Absolute dollar
     uses a single absolute dollar column to specially allocate the depreciation to the partners.
  • Loss
     uses the
    Loss
     column in
    Partner Data Entry
     to specially allocate the depreciation to the partners.
  • Advanced
     uses multiple allocation scheme methods to specially allocate the depreciation. (For example, to use both an absolute dollar column and a percentage column.) Select
    Define Scheme
     to define the advanced allocation scheme.
Special Allocation grid
In the columns in this grid, you can add, edit, or delete the partner note; view the partner's allocated amount for Schedule K-1; or enter the amount, unit, or percentage of the depreciation you want to allocate to each partner. The option you select in the
Allocation scheme
 group box determines which columns appear.
  • Select the field in the
    Partner Note
     column for a partner to open the
    Field Note/Tick
     window to add, review, modify, or delete the partner's note.
  • The
    Partner Amount
     column shows the total amount to allocate and the amounts that will print on each partner's Schedule K-1 and other partner worksheets and reports for the depreciation.
  • Columns with a
    %
     heading are percentage columns. When not also using a unit component, the last percentage column will need to total 100 percent.
  • Columns with a
    $
     heading are absolute dollar columns.
  • Columns with a
    #
     heading are unit columns.
  • Columns with
    >$
     and
    >%
     headings are the greater of columns.
Select this button to open the
Distribute
 window to distribute a remaining percentage or amount equally or pro rata to specific partners.
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