Triva isn't available right now.
Check out the support page for our phone number and hours
Screen NHAdj - New Hampshire Adjustments (1065)
Show all hidden content
Enterprise Value Tax Base
Dividends paid
UltraTax CS transfers the capital account distributions from federal Form 1065, Schedule M-2 to the statement attached to this box.
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
For more information (including details on setting a user preference to mark boxes for which you overruled the transferred amount), see Statements overview.
Dividends received from members of an affiliated group
Enter the amount of dividends received from members of an affiliated group to complete Form BET-80, line 13.
Compensation and wages paid or accrued (Force)
When not using apportionment, UltraTax CS calculates Form BET, line 2, Everywhere Compensation and Wages Paid or Accrued, using the compensation and pension / profit-sharing information from the federal return as shown in the following table and the amount from
Compensation deduction for personal services
on the NHAdj screen.Use this box to force (override) the calculated amount.
Federal Activity | Compensation | Pension/Profit Sharing |
|---|---|---|
Ordinary income | Salaries and wages | Retirement plans |
Cost of goods sold | Cost of Labor | N/A |
Farm | Labor hired | Pension and profit-sharing plans |
Farm Rental | Labor hired | Pension and profit sharing plans |
Rental | Wages and salaries | N/A |
Self-Employment Income | Net earnings from self-employment | N/A |
Adjustments
Federal tax-exempt interest income
UltraTax CS transfers the tax-exempt interest income from the federal K-4 and K1-5 screens to the statement attached to this box. UltraTax CS displays this amount on Form NH-1065, line 2(c).
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. V displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
For more information (including details on setting a user preference to mark boxes for which you overruled the transferred amount), see Statements overview.
Section 108(i) deferred federal deduction (Force)
UltraTax CS automatically calculates this amount and includes it on Schedule IV, Part A. Enter an amount to override the calculated amount.
Section 108(i) deferred federal income (Force)
UltraTax CS automatically calculates this amount and includes it on Schedule IV, Part B. Enter an amount to override the calculated amount.
Nondeductible entertainment subject to 2% (Force)
UltraTax CS automatically calculates this amount and includes it on Schedule IV, Part B. Enter an amount to override the calculated amount.
Other additions
Use the type codes listed in the fieldview and in the following table to classify the adjustment amounts as Qualified Opportunity Zones or other types of additions to income. Items classified as additions to income are included on Schedule IV, Part A.
Type Code | Description | Destination |
|---|---|---|
1 | Qualified Opportunity Zones | Schedule IV, Part A, line 1 |
2 | Other (default) | Schedule IV, Part A, line 2 or greater |
Other deductions
UltraTax CS transfers the amount of federal expenses that were reduced or income increased due to federal credits to this statement. These include the Increasing Research Activities, Disabled Access, Orphan Drug, Small Employer Pension, Employer Child Care, and Health Insurance Premiums credits.
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
Use the type codes listed in the fieldview and in the following table to classify the amounts as Global Intangible Low-Taxed Income (GILTI), Business Interest, Research and Experimental Expense, Fringe Benefits, or other types of deductions from income. Items classified as deductions from income are included on Schedule IV, Part B.
Type Code | Description | Destination |
|---|---|---|
1 | Global Intangible Low-Tax Income (GILTI) | Schedule IV, Part B, line 1 |
2 | Business Interest | Schedule IV, Part B, line 2 |
3 | Research and Experimental Expense | Schedule IV, Part B, line 3 |
5 | Fringe Benefits | Schedule IV, Part B, line 5 |
6 | Other (default) | Schedule IV, Part B, line 6 or greater |
Gain or (loss) from sale of assets
UltraTax CS transfers information from the federal Sch D, Sch K, and 6781 screens to the statement attached to this box. Use this statement to enter a New Hampshire amount that is different from the federal amount. V displays these differences on Schedule IV.
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
For more information (including details on setting a user preference to mark boxes for which you overruled the transferred amount), see Statements overview.
Separate entity limitation adjustment
UltraTax CS calculates the separate entity limitation adjustment from the income and deduction information entered in the federal K1 and K1-2 screens. The application displays this amount on Form NH-1065, line 4.
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
For more information (including details on setting a user preference to mark boxes for which you overruled the transferred amount), see Statements overview.
Additions and Deductions
Compensation deduction for personal services
UltraTax CS transfers guaranteed payments from the federal return to the statement attached to this box. Enter any adjustments to this amount in this statement.
To exclude an item from the state return, delete the amount, enter a zero, or delete the entire line item from the statement. UltraTax CS displays the modified column in black and doesn't overwrite the new data with subsequent federal-to-state data transfers.
For more information (including details on setting a user preference to mark boxes for which you overruled the transferred amount), see Statements overview.
Income and franchise tax
UltraTax CS transfers the taxes entered in the federal 4835, Inc, F-2, KFrgn, K1Frgn, and Rent screens to the statement attached to this box.
Use the type codes listed in the fieldview and in the following table to classify the amounts as income or franchise taxes or other types of taxes. Items classified as income or franchise taxes are included on Form NH-1065.
Type Code | Description | Destination |
|---|---|---|
O | Other (default) | Excluded from return |
T | Income or franchise taxes | Form NH-1065, line 6(d) |
Increase in basis of assets
Use the statement attached to this box to enter adjustments to gross business profits resulting from the sale or exchange of an interest in the partnership. Enter the description, the amount of increase in the basis of an asset, the amount of depreciation/amortization on the federal return not recognized the NH purposes, and the adjustment to net gain or loss upon the sale of the asset.
Use the type codes in the fieldview and in the following table to classify if an election is being made to recognize the basis increase for any sale or exchange of interest in the partnership on Form NH-1065.
Type Code | Destination |
|---|---|
1 - Yes | Form NH-1065, line 6(i) - B |
2 - No (default) | Excluded from return |