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Screen MIAlloc - Michigan Allocation Amounts (1065)

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Allocated Items

Rental real estate activity is nonbusiness
Enter
X
 to indicate that rental real estate activities are nonbusiness. UltraTax CS automatically allocates farm rentals and real estate rentals on Schedule K-1 Worksheet, based on the state postal code entered in the federal 4835 and Rent screens. If this box isn't marked, UltraTax CS uses the total federal amounts multiplied by the apportionment percentage to calculate the state source income.
Other rental activity is nonbusiness
Enter
X
 to indicate that other rental activities are nonbusiness. UltraTax CS automatically allocates other rentals on Schedule K-1 Worksheet, based on the state postal code entered in the federal Rent screen. If this box isn't marked, UltraTax CS uses the total federal amounts multiplied by the apportionment percentage to calculate the state source income.
Royalty activity is nonbusiness
Enter
X
 to indicate that royalty activities are nonbusiness. UltraTax CS automatically allocates royalties on Schedule K-1 Worksheet, based on the state postal code entered in the federal Rent screen. If this box isn't marked, UltraTax CS uses the total federal amounts multiplied by the apportionment percentage to calculate the state source income.

Nonbusiness Income Amounts from Federal Schedule K

Use this section to enter nonbusiness income that was reported on federal K. Don't include amounts received from other passthrough entities.
Guaranteed payments / … / Other income
Enter the total nonbusiness guaranteed payments, interest income, etc. in the
Total Everywhere
 column. UltraTax CS subtracts this amount from the total federal amount before multiplying by the apportionment percentage. Enter the Michigan nonbusiness amount in the
Within Michigan
 column. UltraTax CS adds this amount to the apportioned business amount and display the totals on Schedule K-1 Worksheet, MI Partner’s Share of Income, Additions and Subtractions Wrk.

Nonbusiness Deduction Amounts from Federal Schedule K

Use this section to enter nonbusiness deductions that were reported on federal K. Don't include amounts received from other passthrough entities.

Passthrough Income

Use this section to enter the Michigan portion of passthrough income if different from the federal amount.

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