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Screen CAPBas2 - California Partnership Basis Carryovers (1040)

Overview

Use this screen to calculate California Partner’s Basis Worksheets. Amounts that appear in CAPBas2 Screen automatically transfer from federal PBasis2 Screen or the state allocation spreadsheet. The data transferred depends on the residency status of the return and the method of federal data entry.
Resident Returns
California State, if different amounts entered in federal PBas2 Screen transfer to the
Total Sources
 fields if present. If there are no California State, if different amounts entered, the federal amounts transfer.
California Sources
 fields are not applicable to a resident return.
Part-year resident and nonresident returns
When K1 data is entered without using the state allocation worksheet, California State, if different amounts transfer to the
Total Sources
 and
California Sources
 fields if present. Blank
State, if different
 fields default to transferring the federal information to the
Total Sources
 column. Blank
State, if different
 fields will also default to transferring the federal information to the
California Sources
 column only when the postal code of the activity is CA.
For K1 data that has been entered using the state allocation spreadsheet, amounts entered in the
California - Total sources
 column transfer to the
Total Sources
 fields. For part-year and nonresident returns, amounts entered in the
California - CA sources
 column transfer to the
California Sources
 fields. Blank
California - Total sources
 column amounts default to federal amounts. Blank
California - CA sources
 column amounts default to
California - Total sources
 column amounts.
Total Sources - Regular:
Information from federal data entry transfers to this screen. Amounts entered in the
Total sources
 column are used to calculate the partner basis in the activity as if the taxpayer were a resident of California. The calculated amounts are used for the Total Sources calculations on all forms including Schedules CA and CA (540NR), column D.
Total Sources - AMT:
Information from federal data entry transfers to this screen. Amounts entered in the
Total sources AMT
 column are used to calculate the Alternative Minimum Tax partner basis in the activity as if the taxpayer were a resident of California. The calculated amounts are used for the Total Sources calculations on the Alternative Minimum Tax version of all forms and Schedule P, Page 1. UltraTax CS assumes that a blank AMT amount is zero; blank AMT amounts do not default to regular tax amounts.
California Sources - Regular:
Information from federal data entry transfers to this screen. Amounts entered in the
California sources
 column are applicable only to part-year and nonresident returns to calculate the California source partner basis in the activity. The calculated amounts are used for the California Sources calculation on all applicable forms, including Schedule CA, column E. UltraTax CS assumes that a blank amount is zero; blank
California sources
 column amounts do not default to
Total sources
 column amounts.
California Sources - AMT:
Information from federal data entry transfers to this screen. Amounts entered in the
California sources
 column are applicable only to part-year and nonresident returns to calculate the California source Alternative Minimum Tax partner basis in the activity. The calculated amounts are used for the California Sources calculation on the Alternative Minimum Tax version of all applicable forms and Schedule P (540NR), Page 2. UltraTax CS assumes that a blank amount is zero; blank California sources AMT amounts do not default to Total source AMT amounts.
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