California Form 3885f - Depreciation And Amortization - 2014

TAXABLE YEAR

CALIFORNIA FORM

2014

3885F

Depreciation and Amortization

Attach to Form 541, Form 109, or Form 199.

Name of estate or trust

FEIN

-

Assets and intangibles placed in service during the 2014 taxable year:

Depreciation

Amortization

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

Description of property

Date placed

Cost or other basis

Method of

Life or

Depreciation for

Code

Period or

Amortization for

in service

figuring

rate

this year

section

percentage

this year

(mm/dd/yyyyy)

depreciation

1

Add line 1 column (f) and column (i) amounts. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . .

Depreciation

2 California depreciation for assets placed in service beginning before the 2014 taxable year.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 _________________

Be sure to make adjustments for any basis differences.

3 Total California depreciation. Add line 1(f) and line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 _________________

Amortization

4 California amortization for intangibles placed in service beginning before the 2014 taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 _________________

Be sure to make adjustments for any basis differences.

5 Total California amortization. Add line 1(i) and line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 _________________

6 Total depreciation and amortization. Add line 3 and line 5. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 _________________

General Information

B Federal/State Differences

•

Election to Expense Certain Tangible Property.

(IRC 179) This election does not apply to estates

In general, for taxable years beginning on or after

California law has not always conformed to federal

and trusts.

January 1, 2010, California law conforms to the

law regarding depreciation methods, special credits,

Differences may also occur for other less common

Internal Revenue Code (IRC) as of January 1, 2009.

or accelerated write-offs. Consequently, the recovery

reasons. This list is not intended to be all-inclusive

However, there are continuing differences between

periods and the basis on which the depreciation is

of the federal and state differences. For more

California and federal law. When California conforms

calculated may be different from the amounts used for

information about adjustments, get FTB Pub. 1001,

to federal tax law changes, we do not always adopt

federal purposes. Reportable differences may occur if

or refer to the R&TC.

all of the changes made at the federal level. For

all or part of your assets were placed in service:

more information, go to ftb.ca.gov and search for

•

Before January 1, 1987. California disallowed

Specific Line Instructions

conformity. Additional information can be found

depreciation under the federal Accelerated Cost

in FTB Pub. 1001, Supplemental Guidelines to

Recovery System (ACRS). California depreciation

Line 1 – Complete columns (a) through (i) for each

California Adjustments.

is calculated in the same manner as in prior years

asset or group of assets placed in service during

for those assets.

the 2014 taxable year. Enter the column (f) totals on

The instructions provided with California tax forms

•

On or after January 1, 1987. California provides

line 1(f). Enter the column (i) totals on line 1(i).

are a summary of California tax law and are only

special credits and accelerated write-offs that

intended to aid taxpayers in preparing their state

Attach a schedule if you need additional space.

affect the California basis for qualifying assets.

income tax returns. We include information that is

Line 2 – Enter total California depreciation for assets

California does not conform to all the changes

most useful to the greatest number of taxpayers

placed in service beginning before the 2014 taxable

to federal law enacted in 1993. Therefore, the

in the limited space available. It is not possible to

year, taking into account differences in asset basis or

California basis or recovery periods may be

include all requirements of the California Revenue

differences in California and federal tax law.

different for some assets.

and Taxation Code (R&TC) in the tax booklets.

•

On or after September 11, 2001. California

Line 4 – Enter total California amortization for

Taxpayers should not consider the tax booklets as

intangibles placed in service beginning before

has not conformed to the federal Job Creation

authoritative law.

and Worker Assistance Act of 2002 which

the 2014 taxable year, taking into account any

A Purpose

differences in asset basis or differences in California

allows taxpayers to take an additional first year

and federal tax law.

depreciation deduction and Alternative Minimum

Use form FTB 3885F, Depreciation and Amortization,

Tax depreciation adjustment for property placed

Line 6 – Add line 3 and line 5. Enter the total here and

to compute depreciation and amortization allowed

in service after September 10, 2001.

attach to Form 541.

as a deduction on Form 541, California Fiduciary

•

Amortization of Certain Intangibles. California

If engaged in trade or business: Using California

Income Tax Return, Form 109, California Exempt

conforms to IRC Section 197 relating to the

amounts, complete and attach federal Schedule C

Organization Business Income Tax Return, or

amortization of intangibles as of January 1, 1994.

(Form 1040), Profit or Loss from Business, federal

Form 199, California Exempt Organization Annual

There is no separate California election required

Schedule C-EZ (Form 1040), Net Profit from Business,

Information Return. Attach form FTB 3885F to

or allowed. However, for IRC Section 197

federal Schedule E (Form 1040), Supplemental

Form 541, Form 109, or Form 199.

property acquired before January 1, 1994, the

Income and Loss, and/or federal Schedule F

California adjusted basis as of January 1, 1994,

Depreciation is the annual deduction allowed to

(Form 1040), Profit or Loss From Farming. Follow

must be amortized over the remaining federal

recover the cost or other basis of business or income

federal instructions for “Depreciation, Depletion,

amortization period.

producing property with a determinable useful life of

and Amortization” regarding dividing the deductions

•

American Recovery and Reinvestment Act

more than one year. Land is not depreciable.

between the fiduciary and the beneficiaries.

of 2009. California does not conform to the

Amortization is an amount deducted to recover the

Form 109 filers: Enter the total on Form 109, Part II,

additional 50% first year special depreciation for

cost of certain capital expenses over a fixed period.

line 21a.

qualified property acquired and placed in service

on or after December 31, 2007.

Form 199 filers: Enter the total on Form 199, Part II,

line 16.

FTB 3885F 2014

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