Screen ILDepr - Illinois Depreciation Adjustments (1120)

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Additions

Federal Section 168(k) bonus depreciation
The application calculates the amount of this adjustment on the IL Depreciation Adjustment Worksheet using the data entered in the asset module. To override the calculated amount, enter an amount in the Force field. The application then uses this information to complete Form IL-4562, line 1.
Addition for last year of depreciation
The application calculates the amount of this adjustment on the IL Adjustment for Disposition of Assets Worksheet using the data entered in the asset module. To override the calculated amount, enter an amount in the Force field. The application then uses this information to complete Form IL-4562, line 3.

Subtractions

Total federal depreciation on property with 30 percent bonus depreciation
The application calculates the amount of this adjustment on the IL Depreciation Adjustment Worksheet using the data entered in the asset module. To override the calculated amount, enter an amount in the Force field. The application then uses this information to complete Form IL-4562, line 5.
Total federal depreciation on property with 50 percent bonus depreciation
The application calculates the amount of this adjustment on the IL Depreciation Adjustment Worksheet using the data entered in the asset module. To override the calculated amount, enter an amount in the Force field. The application then uses this information to complete Form IL-4562, line 7.
Subtraction for last year of depreciation
The application calculates the amount of this adjustment on the IL Adjustment for Disposition of Assets Worksheet using the data entered in the asset module. To override the calculated amount, enter an amount in the Force field. The application then uses this information to complete Form IL-4562, line 9.

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