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Screen CTAlloc - Connecticut Source Income/(Loss) and Modifications (1120)

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Net Additions

Interest on state and local obligations other than Connecticut / Exempt-interest dividends from non-Connecticut state or municipal obligations
Enter adjustments to tax-exempt interest information in the statement. All tax-exempt interest and expenses attributable to tax-exempt interest transfer to this statement from the federal return. To include tax exempt income on Form CT-1120SI, Parts I, Schedule C and V, enter a code to specify the type of income.
Type Code
Description
Destination
I
Interest
Form CT-1120SI, Part I, Schedule C, line 1, and Part V, line 1
D
Dividends
Form CT-1120SI, Part I, Schedule C, line 2, and Part V, line 2

Net Subtractions

Expenses for exempt federal income subject to Connecticut tax
Use the statement to code exempt federal expense items that are subject to Connecticut tax. Information in this statement is transferred from the
Expenses attributable to tax-exempt income
statement in the federal Ms screen. To include an amount as a subtraction on Form CT-1120SI, Parts I, Schedule C and V, enter an amount in the
State Amount
column of the statement.

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