California Form 3885 - Corporation Depreciation And Amortization - 2014

ADVERTISEMENT

Corporation Depreciation
TAXABLE YEAR
CALIFORNIA FORM
2014
3885
and Amortization
Attach to Form 100 or Form 100W.
Corporation name
California corporation number
Part I Election To Expense Certain Property Under IRC Section 179
1 Maximum deduction under IRC Section 179 for California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
$25,000
2 Total cost of IRC Section 179 property placed in service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Threshold cost of IRC Section 179 property before reduction in limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
$200,000
4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5 Dollar limitation for taxable year. Subtract line 4 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
(a) Description of property
(b) Cost (business use only)
(c) Elected cost
6
7 Listed property (elected IRC Section 179 cost) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 Total elected cost of IRC Section 179 property. Add amounts in column (c), line 6 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10 Carryover of disallowed deduction from prior taxable years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 IRC Section 179 expense deduction. Add line 9 and line 10, but do not enter more than line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13 Carryover of disallowed deduction to 2015. Add line 9 and line 10, less line 12 . . . . . . . . . . . . . . . .
13
Part II Depreciation and Election of Additional First Year Expense Deduction Under R&TC Section 24356
(d)
(a)
(b)
(c)
(e)
(f)
(g)
(h)
Depreciation allowed
Description of property
Date acquired
Cost or other basis
Depreciation
Life or
Depreciation for
Additional first
or allowable in
method
rate
this year
year depreciation
(mm/dd/yyyy)
earlier years
14
15 Add the amounts in column (g) and column (h). The total of column (h) may not exceed $2,000.
See instructions for line 14, column (h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
Part III Summary
16 Total: If the corporation is electing:
IRC Section 179 expense, add the amount on line 12 and line 15, column (g) or
Additional first year depreciation under R&TC Section 24356, add the amounts on line 15, columns (g) and (h) or
Depreciation (if no election is made), enter the amount from line 15, column (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
17 Total depreciation claimed for federal purposes from federal Form 4562, line 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 Depreciation adjustment. If line 17 is greater than line 16, enter the difference here and on Form 100 or Form 100W, Side 1, line 6.
If line 17 is less than line 16, enter the difference here and on Form 100 or Form 100W, Side 1, line 12. (If California depreciation
amounts are used to determine net income before state adjustments on Form 100 or Form 100W, no adjustment is necessary.). . .
18
Part IV Amortization
(a)
(b)
(c)
(d)
(e)
(f)
(g)
Description of property
Date acquired
Cost or other basis
Amortization allowed or
R&TC section
Period or
Amortization for this year
allowable in earlier years
(see instructions)
percentage
(mm/dd/yyyy)
19
20 Total. Add the amounts in column (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
21 Total amortization claimed for federal purposes from federal Form 4562, line 44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
22 Amortization adjustment. If line 21 is greater than line 20, enter the difference here and on Form 100 or Form 100W,
Side 1, line 6. If line 21 is less than line 20, enter the difference here and on Form 100 or Form 100W, Side 1, line 12 . . . . .
22
FTB 3885 2014
7621143

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go
Page of 3