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Depreciation

Enter Hawaii excise tax credit information

Follow these steps to enter Hawaii Excise Tax Credit Information.
  1. Open the
    Asset List
     window for an activity.
  2. Select
    Add
     and add a new asset, or select an existing asset and select
    Modify
    .
  3. Select
    I
     code in the
    Credit
     field for the HI treatment column.
    note
    Credit code
    I
     is available if the asset was placed in service between January 1, 1999, and April 30, 2009, or after 2009.
  4. Enter the sales or use tax credit amount in the
    Sales / use tax credit claimed under Section 238-3(i)
     field.
    note
    The
    Sales / use tax credit claimed under Section 238-3(i)
     field is available only when
    I
     is selected in the
    Credit
     field for the HI treatment in the asset's
    Depreciation
     tab and the in-service date is between January 1, 1999, and April 30, 2009, or after 2009.
  5. Select
    Credit Information
     in the
    Other
     tab, then select the
    HI Excise Tax Credit
     tab.
    note
    Credit Information
     and the
    HI Excise Tax Credit
     tab are available when 1 of the following conditions exist:
    • Code
      I
       is selected in the
      Credit
       field for the HI treatment and the asset was placed in service between January 1, 1999, and April 30, 2009, or after 2009.
    • The HI treatment is enabled and the asset was placed in service between 5/1/09 and 12/31/09.
  6. Enter information in the fields.
  7. Select
    Done
    .

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization
  • Subject: Depreciation

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