Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Screens

Screen CALLCF-2 - California Single Member LLC - Farm Expenses (1040)

Overview

Use this screen to calculate Schedule F, Profit or Loss From Farming. A separate Schedule F is completed for each farm activity. Schedule F income and losses from all units is transferred to the Form 568 Income Worksheet.

Activity Information

This section displays the entity information for activities included in the Limited Liability Company. The
Activities included in LLC
 statement dialog lists all federal activities included in the LLC. If no data is present in the statement dialog, the LLC is a state unit only and no federal data entry is transferred to the LLC.

Expenses

Information in this section transfers from federal F, F-2, and F-3 Screens for activities identified as included in the LLC. Enter any amounts for the California LLC Schedule F that are different from the federal return.
Forced amounts entered in federal F-2 Screen transfer to this field. When blank, UltraTax CS defaults to including all depreciation, including vehicle depreciation, associated to the activity from data entered in the
California treatment
 fields in the asset module or CADepr Screen. Use this field to force amounts different from the calculated amounts.
The amount entered in the
Buyer’s part of real estate tax
 field in federal Sale Screen with code
1 Real estate taxes already paid; reduce real estate taxes deducted
 transfers to this field. The real estate tax expense component for total Taxes expense reported on Schedule F is the amount entered in the
Taxes
 field with code
2 Real estate taxes
 reduced by the amount in this field.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close