Set up required in the asset module for Form FAE 170 calculations on 1040 Tennessee
Depreciation calculations use data entered in the following screens:
- TNLLCFNWscreen for Schedule G, Determination of Real and Tangible Property
- TNLLCAppscreen for Schedule N, Apportionment - Standard
- TNLLCDepscreen for Schedule J, Computation of Net Earnings Subject to Excise Tax
Data appears in the statements in the screens from entries in the asset module in the Tax, Book, and Tennessee treatment columns.
For new clients, the asset module automatically displays the
Apportion code
field and prompts you to add the Book and Tennessee treatment columns when an LLC activity exists in the Tennessee input screens.For existing clients, refer to the help documentation in the asset module for instructions on how to build the treatments.
You can change the information entered in the asset module on the screens as needed to identify sources inside and outside of Tennessee.
Apportionment code data entry in the asset module is used only to determine the assets to appear in the
TNLLCFNW
and TNLLCDep
screens. Leave the apportionment code field blank to exclude the asset from appearing in those screens.
