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Screen MFBal - Maryland PPT - Balance Sheet

Overview

Use this screen to complete Form 4, Maryland Balance Sheet. UltraTax CS automatically transfers balance sheet amounts from the federal return for 1120 and 1065 clients and from the Asset tab for all clients. Use this input screen to enter amounts that differ from those on the federal return.

Assets

Use this section to enter asset information for the balance sheet.
These fields automatically transfer year-end data from the federal return for 1120 and 1065 clients and default to being entirely within Maryland. You can manually enter data that differs from the federal data in these fields. Data in this year’s
End of Period
 columns will proforma to next year’s
Beginning of Period
 columns.

Liabilities and Equity

Use this section to enter information regarding liabilities and equity for the balance sheet.
These fields will automatically transfer year-end data from the federal return for 1120 and 1065 clients and default to being entirely within Maryland.You can manually enter data that differs from the federal data in these fields. Data in this year’s
End of Period
 column will proforma to next year’s
Beginning of Period
 column.
Use this field to enter an out-of-balance threshold. UltraTax CS then performs an out-of-balance adjustment up to the amount you specify. UltraTax CS does not perform any adjustment if Form 4 is out of balance by more than the amount in this field. UltraTax CS either creates an adjustment to accounts payable or, if there is no balance in accounts payable, adjusts cash to correct an out-of-balance condition between assets and liabilities.

Depreciation Schedule

Use this section to enter information related to Forms 4B and 4C.
Enter up to 15 characters to describe an asset not covered elsewhere. The description appears on Form 4B, line 8.
Enter
X
 if you want to always complete Form 4C.
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