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Depreciation

Enter information for section 179 expense deduction

Enter the Section 179 information in the following places in Ultra Tax CS/1065:
  • In the asset module, use the
    Sec 179 Expense
     field.
  • If you're entering summary asset information, use the fields in the
    Section 179
    ,
    Special Depreciation Allowance
    ,
    Other and MACRS
     section in the 4562 screen.
  • Use the
    Section 179 expense (Force)
     fields in the SepK screen for each activity to override the calculated section 179 expense. Use
    Ptr Alloc
     to allocate the amount to partners using ratios other than the profit-sharing percentages.
  • Use the
    Section 179 expense deduction
     fields in the K1-2 screen to enter section 179 expense from a passthrough entity.
  • Use the carryover fields in the SepK screen for each activity and the K1-6 screen for each passthrough entity to enter carryovers from a prior year.
  • Use the Form 4562–Other Information section in the OthAsset screen in the General folder to override the various lines on Form 4562, Part I or to enter carryovers from a prior year.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1065 Partnership
  • Subject: Depreciation
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