Screen KY4562 - Kentucky Depreciation and Amortization (1120)

Overview

Use this screen to complete a Kentucky version of Form 4562, Depreciation and Amortization. All depreciation and amortization information transfers directly to Screen KY4562 from the KY column of UltraTax CS detailed asset data entry, and then is used to complete the Kentucky version of the federal Form 4562.
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When detailed asset data entry is not used, depreciation information must be entered in this screen to complete the Kentucky version of Form 4562.

Section 179, Other and MACRS

Enter current-year acquisitions that qualify for MACRS and other depreciation in this section.

Listed Property - Depreciation

This section contains questions for Form 4562, Page 2. The answers you provide do not affect the calculation of the number of depreciable vehicles nor the amount of depreciation taken on each vehicle. Instead, UltraTax CS uses your answers to complete the question fields on Page 2.

Listed Property - Information Regarding Vehicle Use

Use this section to enter the mileage of vehicles used in the business and to answer additional questions.

Listed Property - Questions for Employers Providing Vehicles

Use this section to answer questions when vehicles are used by the corporation’s employees.

Amortization

Enter amortization as applicable in this section.

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