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Screen NHDepr - New Hampshire Depreciation Adjustments (1065)

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Adjustments for Depreciation Differences

Depreciation - 179, 168(k), regular, if not using the asset module
This statement contains all assets which are subject to differences in depreciation or dispositions. Information is transferred from both the
Tax
 and
NH
 columns in the detailed asset data entry, and is reported on Form NH-1065. Use this statement to enter the required depreciation information if the detailed asset data entry isn't being used.

Section 179 Adjustments

Carryover from prior year
If you prepared this client in the prior-year version of UltraTax CS, last year’s information is proforma’d to NH Depreciation and Section 179 Adjustment Worksheet.
Business income limitation (Force)
UltraTax CS defines business income for purposes of limiting the section 179 expense deduction as the following: federal ordinary income (Page 1, Ordinary business income [loss]) plus federal net other rental income (Schedule K, Other net rental income [loss]) plus federal guaranteed payments (Schedule K, Guaranteed payments) plus federal royalty income (Schedule K, Royalties) plus federal net 1231 gains (Schedule K, Net section 1231 gain [loss]) plus federal net rental real estate income (Schedule K, Net rental real estate income [loss]) if you mark the
Include net income (loss) in calculation for section 179 business income
 box in federal Screens 4835 and Rent, or the
Include net income (loss) from rental real estate in section 179 business income
 box in federal Screen K1. Force the business income limitation by entering an amount here.

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