Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen SCAdj - South Carolina Adjustments (1065)

Show all hidden content

Disposal of Property with Section 179 Expense in Prior Year

Gain / loss reported separately from federal Schedule K, line 20c
The IRS requires partnerships to separately report the disposition of assets where section 179 expense was claimed in a prior year. These dispositions are no longer reported on Form 4797 and Form 8824, but instead are reported on federal Schedule K, line 20c. This amount is calculated from information entered in federal Screen 8824PT, Screen SalePT, and Screen K1Sale and included on Form SC1065, Column A, line 10, Schedule NR, and SC1065 K-1. A nonsubmittable statement prints detailing this amount. Use the
Force
 field to override the calculated amount. If
0
 (zero) is entered, no adjustment is made.
Section 179 expense included in gain / loss
This field contains the total section 179 expense deduction that was originally claimed on the assets sold during the tax year. This amount is provided for reference purposes only.

Section 108(i) Federal Deferred Information

Section 108(i) deferred federal income adjustment (Force)
UltraTax CS automatically calculates this amount and includes it on South Carolina Form SC1065, Column A, line 11, Schedule NR, and the SC1065 K-1. A nonsubmittable statement prints, detailing this amount. Enter an amount to override the calculated amount.
Section 108(i) OID deferred federal deduction adjustment (Force)
UltraTax CS automatically calculates this amount and includes it on South Carolina Form SC1065, Column A, line 13d, Schedule NR, and the SC1065 K-1. A nonsubmittable statement prints, detailing this amount. Enter an amount to override the calculated amount.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close