Asset depreciation issue for 1065 Pennsylvania returns
If you enter asset information for a 1065 state or city return in the asset module, note that some 1065 state and city returns have depreciation issues.
Data calculation and transfer
After UltraTax CS calculates depreciation and amortization, the application transfers depreciation and amortization amounts for assets entered in the
PA
and PA S/L
columns of the asset module to the PADepr
screen. UltraTax CS then transfers the depreciation and amortization amounts to the various state forms such, as Pennsylvania Schedule M Reconciliation, Pennsylvania Schedule E, the Farm Rental and Expenses Worksheet, the Pennsylvania Rent and Royalty Schedule, and Pennsylvania Schedules RK-1 and NRK-1.Current-year asset disposition information transfers directly to the
PASale
and PASalePT
screen. UltraTax CS then transfers the sales information to the various state forms, such as Pennsylvania Schedule M Reconciliation, Pennsylvania Schedule D, and Pennsylvania Schedule D-1. UltraTax CS uses the state cost and depreciation to calculate the Pennsylvania sales.
