Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Screens

Screen RIAdjC - Rhode Island Adjustments (1120)

Schedule C - Additions to Federal Taxable Income

The application transfers amounts from the federal return to the statement. The application assumes these amounts aren't taxable to Rhode Island. To include the interest on Form RI-1120C, Schedule C, line 1A, enter adjustments to interest in the
State Amount
column of the statement.
The application transfers amounts from the
Taxes and licenses
 statement in the federal Inc and H screens, as well as from taxes entered in the federal Farm, Rent, and 4835 screens. To include state and local taxes on Form RI-1120, Schedule C, enter adjustments to state and local income taxes in the State Amount column of the statement.

Schedule F - Exempt Dividends and Interest

Foreign dividends transfer to this statement from the federal Form 1120, Schedule C. To include the dividend income on Form RI-1120C, enter a code to specify the type of income.
Code
Description
Result
A
100 percent owned
Amount prints on Form RI-1120C, Schedule F, line 6.
L
Less than 20 percent owned
Amount prints on Form RI-1120C, Schedule F, line 5.
M
More than 20 percent owned
Amount prints on Form RI-1120C, Schedule F, line 4.
Amounts in this statement transfer from the
US obligation interest
 boxes in the federal Inc and K1 screens. To exclude an item from the state return, delete the amount or the entire line item from the statement. The application shows the modified amount in black and won't replace the new data with subsequent federal-to-state data transfers.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1120 Corporation
  • State: Rhode Island
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close