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Screens

Screen KYAdj - Kentucky Adjustments (1065)

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Additions

State taxes
UltraTax CS transfers the taxes entered in federal Inc, F-2, 4835-2, and Rent screens to the statement. Use the type codes 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 Form 765-GP or 765.
Type Code
Description
Destination
T
Taxes based on income
Form 765-GP, Page 1, line 2, or Form 765, Page 1, line 2
O
Other (default)
Doesn't transfer to return

Subtractions

Other subtractions
UltraTax CS transfers to the statement the amount of federal expenses that were reduced due to federal credits. These credits include Employer Differential Wage Payment Activities, Disabled Access, Increasing Research Activities, Tip Taxes, Orphan Drug, Small Employer Pension, Employer Provided Child Care, Small Employer Health Insurance Premiums, and Employer Family and Medical Leave.
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 won't overwrite the new data with subsequent federal-to-state data transfers.

Cost of Goods Sold

Purchases
The statement contains purchase information entered in the federal A screen. To exclude an item from the state return, enter zeros for the entire line item from the statement.
Additional section 263A costs
The statement contains additional section 263A costs information entered in the federal A screen. To exclude an item from the state return, enter zeros on the entire line item from the statement.
Other costs
The statement contains Other costs information entered in the federal A screen. To exclude an item from the state return, enter zeros on the entire line item from the statement.

Tax and LLET

Gross receipts less returns and allowances (Force)
Enter the gross receipts attributable to Kentucky and federal sales. If no amount is entered, UltraTax CS uses the amounts entered in the View, then Apportionment window.
note
UltraTax CS defaults to the federal gross receipts amount if no data is entered in this box and there is no data entered in View, then Apportionment.
Cost of goods sold (Force)
Enter the cost of goods sold attributable to Kentucky and federal sales. If no amount is entered, UltraTax CS defaults to the federal cost of goods sold.
Gross receipts / profits from limited liability entities
Enter amounts for gross receipts and gross profits received from limited liability entities. UltraTax CS uses the amounts entered in this statement to complete Schedule L-C.

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