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Depreciation

Calculation of business income for line 11 of Form 4562

UltraTax CS calculates the amount of aggregate trade of business income by totaling the following amounts:
  • Wages.
  • Household income (not reported on Form W-2) from the
    Other Income
     statement in the Income screen
  • Schedule C, net income or loss (if material participation and without section 179)
  • Schedule F, net farm profit or loss (if material participation and without section 179)
  • Form 4797, line 18, ordinary gain or loss
  • Schedule E, income or loss from line 41 (not including income loss from Publicly Traded Partnerships (PTPs) or passive activities, and without section 179)
  • Form 4835, net farm income or loss (if material participation and without section 179)
  • Capital gains or losses from business assets
To determine the amount on line 11, compare this amount with the amount on line 5 of Form 4562. The lesser of these 2 amounts displays on line 11. You can force the amount of business income for section 179 purposes in the
Business income limitation for section 179 (Force)
 field in the OthAsset screen in the Other With Return folder.
To view the details of the calculation of Form 4562, line 11, select
Print
,
Preview
, then
Not Required Statements
.

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