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Screen CAK1-4 - California Schedule K-1, 1065/1041 - Passive Activity (1120)
Show all hidden content
Overview
Use this screen to enter data from the client’s California partnership or trust Schedule K-1. Amounts that appear in this screen are transferred from the federal K1-4 screen. It's important to report any state-related law differences and details in this screen.
Passive Activity Carryovers
The information for
Name of activity
and Name of entity
transfers from the corresponding boxes in the CAK1 screen for this activity. Use this section to enter passive activity information and carryovers. Note that you can enter amounts for both regular and AMT calculations. If you leave AMT
blank, the application assumes that these amounts are zero.Aggregation group
If you are aggregating this activity, enter the aggregation group number. Units with the same aggregation number are reported as 1 item on the statement worksheets for Form 3802 for C Corporations or Form 3801 for S Corporations. All of the entities in an aggregation must have the same passive code. Please note that you can't aggregate nonpassive activities (code
3
) if any of them have prior-year disallowed amounts.Passive Activity Carryovers
Enter last year’s regular and AMT passive-loss carryovers for this activity, in the boxes provided. In future years, this information will proforma automatically.
note
The application treats blank
AMT (C Corp)
boxes as having no AMT carryover. It doesn’t use the regular carryovers as a default AMT amount. If there's no difference between the regular and AMT carryover, enter the same amount in both the Regular
and AMT (C Corp)
columns.