Screen DEAdj - Delaware Adjustments (1065)

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Additions

The statement contains all relevant information entered in the federal K-4 and K1-5 screens. To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and will not overwrite the new data with subsequent federal-to-state data transfers. For more information (including details on setting a user preference to mark fields for which you overruled the transferred amount), refer to the Statements overview.
UltraTax CS transfers the taxes entered in the federal Inc, F-2, Rent, and 4835-2 screens to this statement. Use the type codes listed in the following table to classify the amounts as taxes based on income or other types of taxes. Items classified as taxes based on income are included on Schedule K-1, Supplemental Information for corporate partners.
Tax Code
Description
O
Other (default)
T
Taxes based on income
Enter an amount to reduce the federal charitable contributions. The adjustment is transferred to DE Schedule K-1, Supplemental Information.

Disposal of Property with Section 179 Expense in Prior Year

The IRS requires partnerships to separately report the disposition of assets where Section 179 expense was claimed in a prior year. These dispositions are no longer reported on Forms 4797 and 8824, but instead are reported on federal Schedule K, line 20c. This amount is calculated from information entered in the federal 8824PT, Sale PT and K1Sale screens.
UltraTax CS reduces the basis of the asset by the amount of the Section 179 deduction when calculating the gain or loss. This amount will be included on Form 300 columns A and B, line 13; Form 200-C, line 1; and Schedule K-1, line 10. A nonsubmittable statement will print detailing this amount. Use the
Force
field to override the calculated amount. If
0
is entered, no adjustment will be made.
This field contains the total Section 179 expense deduction that was originally claimed on the assets sold during the tax year. This amount is provided for reference purposes only.
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