Personal property - new (CA treatment)

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The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

The following table provides information about how the California treatment is built in 1120C clients for personal property - new.

When the Tax method is CA treatment will be set up as
All MACRS and ACRS methods

Method: 200% DB

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

Straight Line

Method: Straight Line

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

125% DB

Method: 125% DB

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

150% DB

Method: 150% DB

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

200% DB

Method: 200% DB

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

Years Digits

Method: Years Digits

Life: Uses the appropriate life based on the type entered in the PPT type - CA field. If the PPT type - CA field is blank, the life from the Tax treatment is used.

Amortization

Method: Amortization

Life: 15

Units of Production

Method: Units of Production

Life: Uses the lives entered in the Life and ADS Life fields for the Tax treatment.

Memo

Method: Memo

Life: Uses the life entered in the Life field for the Tax treatment.

User defined

Method: 200% DB

Life: Uses the life entered in the Life field for the Tax treatment.

Related topics

How determines the appropriate method and life

California depreciation for 1120 C Corporations

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