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Screen KYDepr - Kentucky Depreciation Adjustments (1065)

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Adjustments for Differences in Depreciation

Federal depreciation addition from Form 4562
UltraTax CS automatically calculates the amount based on data entered in the asset data entry. Use the
Force
 box to enter the depreciation amount if you aren't using the asset data entry.
Net adjustment for depreciation - ordinary income / Net depreciation adjustment to rental real estate / … / Net depreciation adjustment to portfolio income
UltraTax CS automatically calculates the net adjustment amount based on data entered in the asset data entry. Use the
Force
box to enter the net adjustment if you aren't using the asset data entry. Select Ptr Alloc to specially allocate the depreciation adjustment to the partners using a ratio different from profit-sharing percentages.
note
The adjustment represents the difference between the
Tax
 and
KY treatment
columns in the detailed asset data entry. This amount appears on Form 765-GP, Page 1, lines 3 and 8, and Page 3, Section A, lines 2, 3b, 4c, and 10 and Form 765, Page 1, Part I, lines 3 and 8, and Page 4, Section A, lines 2, 3b, 4c, and 10.
Adjustment to income for disposition of assets
UltraTax CS automatically calculates the amount based on data entered in the asset data entry. Use the
Force
 box to enter the adjustment if you aren't using the asset data entry. Select Ptr Alloc to specially allocate the disposal adjustment to the partners using a ratio different from profit-sharing percentages.
note
The adjustment amount is the difference between the Total depreciation in the
Tax
 column and
KY treatment
 column in the detailed asset data entry for any assets disposed of during the current year. This amount appears on Form 765-GP, Page 1, line 8, or Form 765, Page 1, line 8.

Section 179 Adjustments

Carryover from prior year / Business income limitation (Force)
UltraTax CS automatically calculates the calculated amounts based on figures used on the federal Form 4562. Use the
Force
 box to enter the amount of adjustment when different from the federal amount.
Kentucky section 179 expense
Select Ptr Alloc to specially allocate the Kentucky section 179 expense using a ratio different from profit sharing.

Adjustment for Differences in Disposition of Assets

Section 1231 gain or loss / … / Ordinary gain or loss from like-kind exchanges on Form 8824
UltraTax CS automatically calculates the calculated amount based on data entered in the asset data entry. Use the
Force
 box to enter the amount of addition if you aren't using the asset data entry.
note
The amount is the total depreciation in the
KY treatment
 column of the asset data entry for any assets disposed of during the current year.
Kentucky section 1231 gain or loss
Select Ptr Alloc to specially allocate the Kentucky section 1231 Gain (Loss) using a ratio different from profit-sharing percentages.

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