Screen MI4562 - Michigan Depreciation and Amortization (1040)
Overview
Use this screen to calculate adjustments to federal AGI. All depreciation and amortization information transfers directly into MI4562 Screen from the UltraTax CS asset module and then transfers to the relevant forms. The asset module pulls all information from the Michigan state tax treatment.
UltraTax CS calculates Form 4562 (MI Version), Michigan Recalculated Federal Form 4562, with respect to forms and units. UltraTax CS calculates a separate Form 4562 (MI Version) for each activity. Form 4562 (MI Version), calculated with respect to activities subject to Michigan tax, prints when the form indicates a difference between federal and Michigan depreciation.
- This screen may not apply to every client. UltraTax CS provides a global option regarding the entry of asset information. This screen doesn’t apply when the asset module is selected. (If theEnter Asset Detailcommand is marked in the tab, then the asset module is in use for this client.) When the asset module is selected, the tab for this input screen doesn’t appear in UltraTax CS.
- If the asset module isn't used, enter depreciation or amortization amounts on this screen.
- We recommend entering all asset information through the Asset tab. This data entry method ensures that Michigan depreciation information transfers properly.
