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UltraTax/1065-IL automatically calculates depreciation based on information entered in the asset module. Use the fields on Screen ILDepr to force amounts different than what is calculated, or if the asset module is not being used. 

Bonus depreciation

The State of Illinois does not conform to federal 30% or 50% bonus depreciation for assets placed in service after September 10, 2001. Any assets placed in service after the specified date that claimed additional first year depreciation of 30 or 50% will calculate an adjustment on Form IL-4562. Illinois is a 3/7 state - instead of reporting a net adjustment, an addition equal to the amount of bonus depreciation claimed during the tax year and a deduction equal to the amount of depreciation taken on the federal return is reported on Form IL-4562. 

The State of Illinois does conform to federal 100% bonus depreciation because the date in service is both the initial year and the final year for depreciation. Normally this would be reported as both an addition and a subtraction, but per Form IL-4562 instructions, no adjustments should be made since the addition and subtraction will offset each other. 

Adjustments for assets that have been sold or otherwise disposed of are also reported as an addition and subtraction on Form IL-4562 so that all prior year adjustments get reversed.

Section 179

Illinois DOR conforms to federal Section 179 expense and thus no adjustment will be made.

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