Screen 8911 – Alternative Fuel Vehicle Refueling Property Credit (1120)

Overview

A return-specific option is provided to specify the method of entering asset information; you can either enter asset information in the asset module or in the various depreciation screens. To enter asset information in the screen for the
Description
,
Cost
,
Business Use Percent
, and
Section 179 Expense
fields, choose File, Client Properties, Advanced Properties, then Enter Asset Detail tab and clear the
Enter asset detail information
checkbox to turn off the application default. For more information, refer to how to enter asset data.
This screen is available in the Farm, Farm Rental, and Rent & Royalty folders (activity-based screens). For miscellaneous non-activity related credit data entry, the screen is also part of the Credits folder.
Enter the passive credit carryovers on the PALCr screen or the PALCrESB screen in the appropriate activity folder.

Current Year Credit

The amount in the Credit column is automatically calculated in the statement as 30 percent of the cost less the section 179 expense. However, the amount for each property cannot exceed $30,000.
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