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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.
See also: 1040 California frequently asked questions
Overview
Use this screen to complete Schedules CA (540), CA (540NR), D-1, D (540), D (540NR), and Form 3526. If information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-CA shows it on the form only, not in the input screen.
Adjustments
UltraTax CS uses the information in this section to complete Schedule D (540), California Capital Gain or Loss Adjustment and Schedule D (540NR).
Information in the statement dialogs attached to these fields transfers from the Sales of Capital Assets - Detail statement dialog in federal Screen B&D, located in the Income folder. The amount in the Adjustment to Basis column transfers from the Adj to G/L column in the federal statement dialog. A positive amount represents a reduction to basis, and a negative amount represents an increase to basis reported on California Schedule D. If the California basis is different from the federal basis, you may enter the California basis in the CA Basis (Force) column within this statement dialog or change the amount in the Adjustment to Basis column. Otherwise, UltraTax CS defaults to the federal basis.
Stocks that qualify for the federal Section 1202 exclusion no longer qualify for an exclusion on the California return.
Generally, any changes made to the federal statement dialog are automatically reflected in the state statement dialog. However, items deleted at the state level are not retransferred, items added at the state level are not deleted by subsequent transfers, and columns that do not exist at the federal level are not deleted by subsequent transfers.
Wash Sales
Use Adj code W for losses that are disallowed under the Wash Sale rules. When code W is entered and the difference between the Sales Price and the Basis results in a loss, two line items are reported on California Schedule D (540). The first item represents the difference (loss) without consideration of any adjustment to basis. The second item represents the amount of loss disallowed under the Wash Sale rules, as entered in the Adjustment to Basis column.
For Schedule D (540) reporting, UltraTax/1040-CA ignores the Adjustment to Basis amount for transactions with code W when the difference between Sales Price and Basis results in a gain. To account for the adjustment to basis on Schedule D (540) for transactions that result in a gain, remove code W from the transaction in this statement dialog.
California Franchise Tax Board requires a loss subject to the Wash Sale rules to be reported as a separate item on Schedule D(540). When entering data on federal Screen B&D or in this statement dialog, do not include losses subject to Wash Sale rules in line items that combine several transactions into one line of data entry.
UltraTax CS automatically calculates the amounts for Schedules D (540) and D (540NR). Use the fields within this column to force amounts different from the calculated amount.
UltraTax CS automatically calculates the amounts for the California Schedule D worksheet, Column B, based on postal code entries. Use the fields within this column to adjust the amounts in Column B for part-year returns only.
Use the fields within this column to enter income / loss from California sources during periods of non-residence. These amounts are used to calculate the California Schedule D worksheet, Column D.
2018 UltraTax CS
