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Screen CADepr - California Depreciation and Amortization (1040)

Overview

Use this screen to review information that transferred from federal data entry. All depreciation and amortization information transfers directly into the CADepr Screen from the UltraTax CS asset module when detailed data entry is used or from federal data entry when summary data entry is used and then transfers to the relevant form(s). UltraTax CS calculates Forms 3885A and 3885L with respect to forms and units.
UltraTax CS calculates a separate Form 3885A and 3885L for each activity. Form 3885A, calculated with respect to activities subject to California tax, prints when the form indicates a difference between federal and California depreciation. Form 3885L prints when required as an attachment to Form 568.
UltraTax CS provides a global option that allows you to specify how you want to enter asset information. You can enter it either in the asset module or in the various depreciation input screens. When you specify that you want to use the asset module as your method of asset data entry via File, Client Properties,  Advanced Properties, and then Enter Asset Detail, this input screen is not applicable and the tab for this input screen does not appear. Therefore, you must enter a postal code for each asset in depreciation data entry.
If the asset module is not used, this input screen must be used to enter depreciation or amortization amounts on the relevant form(s).
It is highly recommended that all asset information be entered through the Asset tab. This data entry method ensures that California depreciation information is entered properly.

Asset Information

Enter information in this section to complete Form 3885A and 3885L, Schedule P (540) or P (540NR), the California Section 179 Expense Deduction Worksheet, Form 2106, and the California Supplemental Business Expenses Worksheets. The
California sources
 amounts are used only for calculation of instate unreimbursed partner expenses for Schedule K1 activities. Data transfers to the
California sources
 fields from the asset module only for assets entered with situs California. Assets may be adjusted, deleted or copied from the equivalent
Everywhere
 statement dialogs and pasted into the
California source
 statement dialogs.
Method:
Depreciation method that transfers to this statement dialog is based on specific data entry in the Asset Module. Per California FTB electronic filing specifications, the only entries allowed on Form 3885A or Form 3885L are "200DB," "150DB," "125DB," "DB," "SL" (straight-line), and "Other." For methods entered in this statement dialog that are not reflected in the aforementioned list, UltraTax CS reports "Other" on the form and in the electronic record. If Method column is blank, UltraTax CS displays a diagnostic message.
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