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Screen CAOthAst - California Other Sale and Depreciation Information (1065)

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Overview

Use this screen to enter other information to complete Schedule D-1, Form 3885P / 3885L and the CA Depreciation and Amortization Activity Worksheet. If information transferred from UltraTax CS doesn't require additional data or coding, UltraTax CS shows it on the form only, not in the input screen.
note
Enter California Schedule D-1, Other Information amounts in the boxes only when there is a difference between corresponding federal and state amounts. If these boxes are blank, the California amount defaults to the federal amount. The CA Depreciation - section 179 amounts do
not
default to the federal amounts and need to be re-entered.

Depreciation - Section 179

Total cost of section 179 property placed in service this year (Force) / … / Business income limitation (Force)
If desired, you can force UltraTax CS to use a specified section 179 expense amount. To do so, enter the desired amount, including
0
(zero), in S
ection 179 expense (Force)
 in the CASepK screen. If
S
ection 179 expense (Force)
 is blank, UltraTax CS uses the calculated section 179 expense amount. UltraTax CS calculates section 179 expense as described here.
Detailed asset data entry determines the qualified section 179 property placed in service in the current year. If the cost of qualified assets exceeds $200,000, UltraTax CS limits the total expense for the year as required. Force the total cost of section 179 property placed in service this year by entering an amount in
Total cost of section 179 property placed in service this year (Force)
.
UltraTax CS then calculates the section 179 expense amount by first limiting the current-year amount to $25,000. It adds that amount to the amount in
Carryover from prior year
 and then applies the $25,000 and $200,000 limitations. Force the maximum dollar limitation by entering an amount in
Maximum dollar limit (Force)
. Finally, UltraTax CS limits the result to business income.
UltraTax CS defines business income as ordinary income (Schedule K, line 1) plus net other rental income (line 3) plus net royalty income (line 7) plus net 1231 gains (line 10) plus guaranteed payments (line 4). To include a particular rental real estate activity in the business income calculation, mark the
Include net income (loss) in calculation for section 179 business income
 box in CARent screen and the
Include net income (loss) from rental real estate in section 179 business income
 box in the CAK1 screen. Force the business income limitation by entering an amount in
Business income limitation (Force)
.

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