Screen CAK1T-3 - California Schedule K-1, Estates and Trusts - Page 3 (1040)

Overview

Use this screen to enter passive activity and other carryover information.

Passive Activity Information and Carryovers

The information in this section is automatically transferred to this input screen from federal K1T-2 and K1-St Screens.
When state-specific carryover information is available for proforma, the information is proforma’d to the corresponding federal input screen for the activity. Total Sources information is proforma’d to federal K1-St Screen with postal code
CA
. California Sources carryover information is proforma’d to federal K1-St Screen with postal code
CS
(California Source). The information is federal-to-state transferred to this screen.
California Sources
fields that are blank are assumed to be zero; the calculation does not default to Total Sources amounts.
The passive activity code entered in federal K1T-3 Screen transfers to this field. Code
4 Real estate professional
is not applicable to California and is not available in the fieldview attached to this field. UltraTax CS automatically changes a code
4 Real estate professional
entered in federal K1T-2 Screen to code
2 Rental real estate w/active participation
in this field. The code may be changed as needed to code
1 Other passive
when the additional loss deduction for rental real estate activities is not applicable to the activity.
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