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Screen MDDepr - Maryland Depreciation Adjustments (1120)

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Adjustments for State Differences

Net operating loss deduction: Net operating loss as filed on federal return (C Corp)
Enter the net operating loss as filed on the federal tax return resulting from a five year loss carryback if there was compliance with the JCWA provisions.
Net operating loss deduction: Net operating loss without JCWA and JGTRAA provisions (C Corp)
Enter the net operating loss resulting from a five year loss carryback without regard to JCWA and JGTRAA provisions.

Adjustments for Disposition of Assets

Gain (loss) on sale of property (Force)
The application calculates the depreciation difference from gain or loss for any assets disposed of during the current year based on data entered in the asset module. Use the
Force
 box to enter the gain or loss if you aren't using the asset module.

Section 179 Adjustments

Business income limitation (Force)
Enter an amount to force the business income limitation used to calculate the Section 179 expense deduction. Enter
0
 (zero) in this box. If this box is blank, the application uses the amount from federal Form 4562.

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