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Screen VTDeprC - Vermont Depreciation Adjustments (1120)

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Refer to: 1120 Vermont frequently asked questions

Dispositions from Pass-Through Entities

Section 1231 gain or loss
This amount calculates based on information in the asset module. Use the
Force
 column to override the calculated amount. The amount returns to the VT Sale of Business Property Worksheet.

Section 179 Adjustments

Section 179 carryover from prior years
Enter the amount of Section 179 carryover from the prior year. The application calculates current year amount of Section 179 carryover and proformas it to the next year.
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 field if applicable. If this field is blank, the application uses the amount from federal Form 4562.

Recapture Amounts Under Sections 179 and 280F(b)(2)

Section 179 expense deduction allowable in prior years / … / Section 280F(b)(2) recomputed depreciation
The application transfers the amounts from the applicable federal screen to these fields. Enter a state amount if different from federal, or enter
0
 (zero) if applicable.

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