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Screen FORet-2 - Florida PPT - Tangible Personal Property (Continued)

Overview

UltraTax CS automatically transfers each location association from the asset module to a separate unit on this screen, which corresponds with each FOReturn screen. Use this screen to enter asset specific information necessary to complete Form DR-405, Tangible Personal Property Tax Return, Page 1, lines 10 to 24 and Page 2. One return is required for each physical location.

General Information

Use this section for specific asset information for Form DR-405 for the corresponding unit only.
UltraTax CS automatically enters the next available number. If desired, you can overwrite this number but you cannot leave the box blank. UltraTax CS uses this information to gather and coordinate information for the assessable business location.
UltraTax CS automatically transfers the location from the corresponding FOReturn screen.
Personal property information transfers from the asset module to statement window on the FORet-2 screen. You'll need to complete the
Location
 and
PPT type - FL
 boxes and enter
Florida
 in the
Situs
 box for each asset in the Asset Detail window for the federal activity in order for the detail to transfer.
Fair market value
,
Condition
, and
Age
 are additional asset associations in the asset module. Cost transfers from the Book treatment, unless
Complete return using the FL treatment within the Asset module
 is selected in the FOGen screen. The fair market value can be entered in the asset module or
Use Net Book Value from asset module when Fair Market Value association is blank
 in the FOGen screen can be selected to force UltraTax CS to transfer the net book value into
Fair market value
 in the statement windows.
Disposed asset information transfers from the asset module to the statement window. Sold / scrapped, casualty / theft, retired, and traded assets with
PPT type - FL
 coded as something other than
X - Exempt
 transfer to the statement window. The net book value in the asset module transfers into
Fair market value
 when
Use Net Book Value from asset module when Fair Market Value association is blank
 is selected in the FOGen screen.
Enter leased, loaned, and rented equipment (equipment not owned by you) in the statement window. Name and address of owner or lessor, description, year acquired, year manufactured, rent per month, cost, and lease option are available boxes in the statement window.
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