Skip to main content
Depreciation
Search
Search UltraTax CS Support Help and Support.

This article applies to:

  • Product: Fixed Assets CS
  • Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization
  • Subject: Depreciation

Change a state's compliance with bonus depreciation

The information in the
Setup
,
State Calculations
 window regarding each state's compliance with bonus depreciation and limitations on section 179 is current as of the 1st release of Fixed Assets CS for the application's tax year. If the state law regarding bonus depreciation or section 179 limits changes after the initial release of Fixed Assets CS, you'll need to make changes in this window.
To change a state's compliance with section 168(k) and 1400L, 1400N, or 168(n) or to change a state's section 179 limits, perform the following steps.
  1. In the
    Asset List
     window, select
    Setup
    then
    State Calculations
    .
  2. In the
    State Calculations
     window, select the state you'll change calculation options for from the
    State
     field.
  3. Select the tab for the entity type you want to change.
    note
    If a client is open when you open the
    State Calculations
     window, the tab for that client's entity type is selected automatically.
  4. In the Follow IRC Sections 168(k) & 1400L, 1400N (GO Zone), or 168(n) (Disaster Area) group box, make the selections for the selected state's compliance.
  5. Select
    OK
     to save your changes.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close