Report specially allocated depreciation
By default, UltraTax CS reports the amount of specially allocated depreciation on Schedule K, Other deductions.
To report specially allocated depreciation with its associated activity, mark the
Include specially allocated depreciation with associated activity
checkbox in the CltOptns screen. If this checkbox is marked, UltraTax CS reports specially allocated depreciation as follows:Description | Reported on Form / Schedule |
|---|---|
Page 1 | Schedule K, Other income (loss) |
Cost of Goods Sold | Schedule K, Other income (loss) |
Schedule F | Schedule K, Other income (loss) |
Farm Rental | Form 8825, Depreciation |
Other Rent | Schedule K, Expenses from other rental activities |
Rental Real Estate | Form 8825, Depreciation |
Royalty | Schedule K, Royalties |
Other Portfolio | Schedule K, Other deductions |
note
UltraTax CS doesn’t include the depreciation from a specially allocated asset on the return if the
Tracking partner's outside basis
checkbox is marked in the Other
tab in the asset module.
