Form 3885 - Corporation Depreciation And Amortization - 1998

Download a blank fillable Form 3885 - Corporation Depreciation And Amortization - 1998 in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form 3885 - Corporation Depreciation And Amortization - 1998 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

ADVERTISEMENT

INCOME YEAR
CALIFORNIA FORM
1998
Corporation Depreciation and Amortization
3885
Attach to Form 100.
Corporation name
California corporation number
Part I
Depreciation
( b ) Date
( c ) Cost or
( d ) Depreciation
( e ) Method
( f ) Life
( g ) Depreciation
( h ) Additional first
( a ) Description of property
acquired
other basis
allowed or
of figur-
or rate
for this year
year depreciation
allowable
ing de-
in earlier years
precia-
tion
1
2 Add the amounts in columns (g) and (h). The combined total of column (h) may not exceed $2,000.
See instructions for line 1, column (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Total. Add the amounts on line 2, columns (g) and (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Total depreciation claimed for federal purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5 Depreciation adjustment. If line 4 is greater than line 3, enter the difference here and on Form 100, Side 1, line 6.
If line 4 is less than line 3, enter the difference here and on Form 100, Side 1, line 15. (If California depreciation
amounts are used on Form 100, no adjustment is necessary) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Part II
Amortization
( a ) Description of property
( b ) Date
( c ) Cost or
( d ) Amortization allowed or
( e ) R&TC
( f ) Period or
( g ) Amortization
acquired
other basis
allowable in earlier years
section
percentage
for this year
1
2 Total. Add the amounts in column (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Total amortization claimed for federal purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Amortization adjustment. If line 3 is greater than line 2, enter the difference here and on Form 100, Side 1, line 6.
If line 3 is less than line 2, enter the difference here and on Form 100, Side 1, line 15. . . . . . . . . . . . . . . . . . . . .
4
General Information
A Purpose
For purposes of this form, depreciation is used in
connection with tangible property, while amortization
Use this form to figure California depreciation and
is used for intangible assets.
In general, California tax law conforms to the Internal
amortization for corporations, and for partnerships
Revenue Code (IRC) as of January 1, 1998. How-
Note: For amortizing the cost of certified pollution
and limited liability companies (LLCs) classified as
ever, there are continuing differences between Cali-
control facilities, use form FTB 3580, Application to
corporations. S corporations must use Schedule B
fornia and federal tax law. California has not
Amortize Certified Pollution Control Facility.
(100S). Individuals must use form FTB 3885A,
conformed to the changes made to the IRC by the
Important differences between federal and California
Depreciation and Amortization – Individuals. Fiduci-
federal Internal Revenue Service (IRS) Restructuring
laws affect the calculation of depreciation and amor-
aries and exempt trusts must use form FTB 3885F,
and Reform Act of 1998 (Public Law 105-206) or the
tization. Some of the major differences are briefly
Depreciation and Amortization – Fiduciaries. Partner-
Tax and Trade Relief Extension Act of 1998 (Public
described below:
ships must use form FTB 3885P, Depreciation and
Law 105-277).
Amortization – Partnerships. LLCs classified as part-
California law has not conformed to federal
California law conforms to federal law regarding the
nerships must use form FTB 3885L, Depreciation
statutes allowing accelerated depreciation for
temporary suspension of income limitations on per-
and Amortization – Limited Liability Companies.
property on Indian Reservations;
centage depletion for production from marginal wells.
California law allows a useful life of five years
Depreciation and amortization are deductions corpo-
The percentage depletion deduction, which may not
instead of ten years for grapevines planted as
rations claim for reasonable exhaustion, wear and
exceed 65% of the taxpayer’s taxable income, is no
replacements for vines subject to Phylloxera or
tear, and normal obsolescence of property used in a
longer restricted from exceeding 100% of the net
Pierce’s Disease;
trade or business or held for the production of
income derived from the oil or gas well property.
income.
388598109
FTB 3885 1998 Side 1

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go
Page of 2