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Depreciation

Enter Clean Vehicle Credit information

To complete Form 8936 on an 1120 or 1040 return, you'll need to enter Clean Vehicle information in either the Asset module or the 8936 screen. This screen is available in each business activity folder and the Credits folder.
For 1040 returns:
If you have the Asset module enabled, you'll need to enter business clean vehicle information in there rather than the input screen. If you want to complete Form 8936 without entering an asset, or if you're entering previously owned vehicle information, use the 8936 screen in the Credits folder.
For 1120 returns:
 Enter the passive credit carryovers on the PALCr or PALCrESB screen in the appropriate activity folder.
For 1065 returns:
Form 8936 is a non-calculating form. Complete the form in the Non Calculating folder, then enter the total credit amount in the
Other credits not entered elsewhere
 statement field on the
Cr
 screen in the Income & Deductions folder.
Follow these steps to enter Clean Vehicle Credit information in the Asset module.
  1. Open the
    Asset List
     window for an activity.
  2. Select
    Add
     to add an asset, or select the asset then
    Modify
    .
  3. Follow the steps for 1 of these options:
    • If you haven't previously entered this credit information for the current asset:
      1. From the dropdown list for the
        Credit/Amount
         field, select either credit code
        M
         or
        N
        .
      2. Enter information in the proper fields.
      3. Select
        OK
        .
    • If you previously entered this credit information for the current asset and want to modify the information:
      1. Select the
        Other
         tab.
      2. Select
        Credit Information
        .
      3. Enter the information in the
        New Clean Vehicles Credit
         tab.
      4. Select
        OK
        .
  4. Select
    Done
     to return to the
    Asset List
     window.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual, 1120 Corporation
  • Subject: Depreciation
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