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Screen HI4835 - Hawaii Farm Rental (1040)
Show all hidden content
Overview
Use this screen to calculate Hawaii farm rental income and the Hawaii Reconciliation Report.
General Information
Information that appears in this section automatically transfers from the federal
4835
screen.Income and Expenses
For all returns, Total Sources calculations always include 100 percent of income and expenses entered in the federal
4835
screen. For part-year and nonresident returns, activities with postal code HI
that aren't allocated using the state allocation spreadsheet include 100 percent of income and expenses in the Hawaii Sources calculations; activities with any other postal code exclude all income and expenses for the Hawaii Sources calculations. When you enter data into the state allocation spreadsheet, Hawaii Sources amounts are calculated by multiplying the total income and total expenses by the amount in
Percent of federal allocated to state
entered in the federal St CO
screen with postal code HS
(Hawaii Source). Blank HS
screen amounts default to HI
screen amounts.Gross income adjustment
Use this field to adjust income as needed for Hawaii law. Income adjustments made in this field are reported on the Hawaii Reconciliation Report. Differing income for business units are reported as an addition or subtraction on the Hawaii return.
Expense adjustment
Use these fields to adjust expenses as needed for Hawaii law. Expense adjustments made in these fields are reported on the Hawaii Reconciliation Report. Differing expenses or depreciation for business units are reported as an addition or subtraction on the Hawaii return.
Prior year Section 179 / … / Recomputed Section 280F
Information appears in the shaded fields from data entered in the federal
4835
screen and in the asset module. Use the Force
fields to force an amount different than the calculated amount appearing in the shaded default fields.Passive Activity and Carryover Information
Information that appears in this section automatically transferred to this input screen from the federal
4835-2
and St CO
screens.Operating / … / Section 179 Carryover
When Total Sources state-specific carryover information is available for proforma, the information is proforma’d to the corresponding federal input screen for the activity and transfers from UltraTax/1040 to the
Total sources
fields. When Hawaii source carryover information is available for proforma, the information is proforma’d to the Hawaii Sources
fields. Hawaii Sources
fields with no data are assumed to be zero. The calculation doesn't default to the Total Sources
column amounts. The Hawaii Sources
fields are used to calculate the part-year and nonresident returns only.This article applies to:
- PRODUCT: UltraTax CS
- Return type: 1040 Individual
- State: Hawaii