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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.

Add-Backs

Use this section to enter add-backs reported on Schedule 1, Schedule B, and the Indiana Taxable Income Worksheet. You can use the force fields in this section to enter different amounts from what is calculated.

Taxes based on income from federal Schedules C, E, or F (Force)

An add-back calculates for amounts you enter with code 6 (or left blank) in the Taxes or Taxes / licenses field in the federal C-2, Rent, F-2, and 4835 screens. You can force different amounts here.

Net operating loss carryover reported on federal Form 1040 (Force)

An add-back calculates on Schedule 1 for any net operating loss carryover you enter on the federal NOLCO screen that calculates as a negative amount on federal Form 1040, Schedule 1, line 21, Other income.

Deferral of business indebtedness discharge and reacquisition (Force)

In 2009-2010, taxpayers could defer certain income on the federal return under IRC S 108(i) and recognize that income over tax years 2014-2018. Indiana didn’t conform to this and excluded income in 2009 or 2010 was reported as an add-back. Related income entered on the federal CODI screen reports as an offsetting adjustment on Schedule 1 or B.

Deductions

Use this section to enter deductions reported on Schedule 2, Schedule C, and the Indiana Taxable Income Worksheet. You can use the force fields in this section to enter amounts that are different from what is calculated.

Renter’s deduction - Renter information / Landlord information

Indiana allows a deduction for rent paid on the primary residence. Use this statement to report the information on Schedule 2 or Schedule C. See Renter’s deduction.

Property taxes - Amounts paid (Force)

Indiana allows a deduction on Schedule 2 or Schedule C for certain real estate taxes paid on taxpayer’s primary residence. Use this statement to report the qualifying amounts on the return.

Property taxes - Residential homeowner’s address information (Force)

If the principal residence that the taxpayer paid property taxes to is different from the address on the Indiana return, enter that information here. The address that has the most property taxes paid reports on Schedule 2 or Schedule C once you print the return. A required statement with all property information also prints.

Lottery winnings deduction (Force)

A taxpayer can claim a deduction for annuity payments from Hoosier Lottery drawings held prior to 7/1/02. The deduction calculates based on the winnings you enter in Box 1 on the federal W2G screen when the postal code is IN, State use code is 3, and Date won is prior to 7/1/02. Use these fields to force a different amount on Schedule 2 or C.

Indiana net operating loss deduction: Taxpayer

For resident returns, this field is available only for MFJ filing status. Use this field to assign the portion of calculated NOL deduction attributable to the taxpayer. The balance is assigned to the spouse.

Indiana net operating loss deduction: Spouse

For part-year and nonresident returns with married filing joint status, enter the amount of NOL deduction attributable to the spouse. The NOL deduction for part-year and nonresident returns does not calculate automatically. This field is not available for resident returns.

Calculate Indiana Long-Term Care Policy Premiums Deduction Worksheet

Use this field to calculate the Indiana Long-Term Care Policy Premiums Deduction Worksheet. When you mark this field and the Indiana LTC policy premiums deduction (Force) fields are blank, the worksheet for determining the Code 608 deduction on Schedule 2 or Schedule C calculates.

Qualifying LTC policy premiums (Force) / … / Qualifying LTC policy premiums deducted on fed Sch C or Sch F

The default calculation of the Indiana Long-Term Care Policy Premiums Deduction Wrk treats all Long-Term Care Policy premiums you enter in the federal as qualifying premiums for purposes of calculating the Indiana deduction. Use these fields to force qualifying amounts that appear on the Indiana Long-Term Care Policy Premiums Deduction Worksheet.

Indiana LTC policy premiums deduction (Force)

Enter amounts to force the IN Long-term Care policy premiums Code 608 deduction on Schedule 2 or Schedule C. If the taxpayer and spouse are taxed in different counties for Schedule CT-40 or Schedule CT-40PNR purposes, enter applicable amounts in each field. Otherwise, if forcing the deduction, enter an amount in the Taxpayer field only.

Recovery of deductions (Force)

Amounts you enter with federal code 7 - Itemized deduction recoveries in the Other income field on the federal Income screen, report on Schedule 2 or C. Use these fields to enter an amount different from the calculated amount.

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