New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Overview

Gross income from all business and nonbusiness sources is included in Aggregate Gross Receipts (AGR). The test is applied to income from all sources. For part-year and nonresident returns, the test is applied to income from total sources (not California sources only).

Calculation

The AGR is automatically calculated for every return and a Not Required statement will print listing the income sources. If the AGR calculates to less than $1,000,000, a second statement is printed listing the taxable income from trades or businesses that is eligible to be excluded from Schedule P, Page 1 income. For part-year and nonresident returns, a third statement is printed listing taxable trade or business income from only California sources that is eligible to be excluded from Schedule P, Page 2 income. All exclusion and preference items are automatically excluded from the calculation of Schedule P, Page 1 and Schedule P (540NR), Pages 1 and 2. The calculated AMTI exclusion is displayed on Schedule P, Page 1 and Schedule P (540NR), Pages 1 and 2.

To force the return to meet or fail the Aggregate Gross Receipts test, use the Meets aggregate gross receipts test (Force) field in Screen CAAMT. An entry in this field includes or excludes all adjustments, preferences, and AMTI excludable income on the return. The statement detail of the calculation no longer prints. Adjustments, preferences, and AMTI exclusions may be forced to be different from the calculated amounts on a field by field basis using the Force fields in Screen CAAMT.

Was this article helpful?

Yes No

Submit