Schedule B (100s) - California S Corporation Depreciation And Amortization - 2015 Page 2
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Part II – Amortization
California also does not allow depreciation
under modified accelerated cost recovery
Listed Property – Use a format similar to federal
California conforms to the IRC Section 197
system (MACRS) for assets placed in
Form 4562, Part V, line 26 to determine the
amortization of intangibles for taxable years
service while the S corporation was taxed
elected IRC Section 179 cost of listed property.
beginning on or after January 1, 1994.
as a C corporation. This is a change of
Listed property generally includes the following:
Generally, assets that meet the definition
accounting method for which the taxpayer
• Passenger automobiles weighing 6,000
under IRC Section 197 are amortized on a
must request the Franchise Tax Board’s
pounds or less.
straight-line basis over 15 years. There may
consent.
• Any other property used for transportation
be differences in the federal and California
• The additional first-year depreciation of
if the nature of the property lends itself to
amounts for intangible assets acquired in
certain qualified property placed in service
personal use, such as motorcycles, pick-up
taxable years beginning prior to January 1,
after October 3, 2008, and the election to
trucks, SUVs, etc.
1994. Refer to R&TC Section 24355.5 for more
claim additional research and minimum
• Any property used for entertainment
information.
tax credits in lieu of claiming the bonus
or recreational purposes (such
Amortization of the following assets is
depreciation.
as photographic, phonographic,
governed by California law:
• The accelerated recovery period for
communication, and video recording
• Bond premiums R&TC 24360 – 24363.5
depreciation of smart meters and smart
equipment).
• Research expenditures R&TC 24365
grid systems.
• Computers or peripheral equipment.
• Reforestation expenses R&TC 24372.5
Exception. Listed property generally does not
• Organizational expenditures R&TC 24407 –
Purpose
include:
24409
Use Schedule B (100S), S Corporation
• Photographic, phonographic,
• Start-up expenses R&TC 24414
Depreciation and Amortization, to calculate
communication, or video equipment used
depreciation and amortization for California tax
Other intangible assets may be amortized if it is
exclusively in the S corporation’s trade or
purposes.
proved with reasonable accuracy that the asset
business.
has an ascertainable value that diminishes over
Specific Instructions
• Any computer or peripheral equipment
time and has a limited useful life.
used exclusively at a regular business.
Line 2, column (e)
Part I – Depreciation
• An ambulance, hearse, or vehicle used for
Enter the correct R&TC section for the type
transporting persons or property for hire.
Election to Expense Certain Property Under
of amortization. See the R&TC sections listed
IRC Section 179
Listed property used 50% or less in
above.
The S corporation may elect to expense part
business activity does not qualify for the IRC
Part III – Depreciation and Amortization
of the cost of depreciable personal property
Section 179 expense deduction. For more
Adjustment
used in the trade or business and certain other
information regarding listed property, get the
property described in federal Publication 946,
If the S corporation has direct ownership
instructions for federal Form 4562.
How to Depreciate Property. To do so, the
of a passive activity, complete a separate
Business Income – The total cost the
S corporation must have purchased property,
Schedule B (100S), write “Passive Activity”
S corporation can deduct is limited to the
on the top of Schedule B (100S), and enter
as defined in the IRC Section 179(d)(2), and
S corporation’s business income. For the
placed it in service during the taxable year, or
the current year depreciation adjustment on
purpose of IRC Section 179 election, business
have a carryover of unused cost from prior
Part III. Also, enter the current year depreciation
income is the net income derived from the
year. If the S corporation elects this deduction,
adjustment on form FTB 3801, Passive Activity
S corporation’s active trade or business,
Loss Limitations, Side 2, California Passive
it must reduce the California depreciable basis
Form 100S, Side 2, line 14, before the IRC
by the IRC Section 179 expense.
Activity Worksheet, column (e). Make sure to
Section 179 expense deduction (excluding
label “Schedule B (100S)” in column (c) of
Limitations. California law does not conform
items not derived from a trade or business
the California Passive Activity Worksheet. Do
to the federal limitation amounts under IRC
actively conducted by the S corporation).
not enter the current taxable year depreciation
Section 179(b)(1) and (2). For California
adjustment for passive activity on Form 100S,
purposes, the maximum IRC Section 179
Side 1, line 5.
expense deduction allowed is $25,000. This
The S corporation does not need to complete
amount is reduced if the cost of all IRC
Section 179 property placed in service during
Schedule B (100S) for pass-through entities
the taxable year is more than $200,000. The
except to include IRC Section 179 expense.
total IRC Section 179 expense deduction
cannot exceed the S corporation’s business
Tangible Property Expense Worksheet
income.
1 Maximum deduction under IRC Section 179 for California . . . . . . . . . . . . . . . . . . . . . .
1
25,000
IRC Section 195 Start-up Expenditures
2 Total cost of IRC Section 179 property placed in service . . . . . . . . . . . . . . . . . . . . . . .
2
California conforms to the federal changes
3 Threshold cost of IRC Section 179 property before reduction in limitation. . . . . . . . . .
3
200,000
made to the deduction of business start-up
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.
and organizational costs paid or incurred on or
If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
after January 1, 2005. Exceptions: California
(a) Description of property
(b) Cost
(c) Elected cost
does not conform to the federal increase in the
6
deduction for start-up expenses in the 2010
taxable year.
7 Listed property (elected IRC Section 179 cost). . . . . . . . . . . . . . 7
Complete the Tangible Property Expense
8 Total elected cost of IRC Section 179 property. Add line 6, column (c) and line 7 . . . .
8
Worksheet to figure IRC Section 179 expense
9 Tentative deduction. Enter the smaller of line 5 or line 8 . . . . . . . . . . . . . . . . . . . . . . .
9
for California purposes. Include all assets
10 Carryover of disallowed deduction from 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
qualifying for the deduction because the
11 Enter the smaller of business income (not less than -0-) or line 5 . . . . . . . . . . . . . . . . 11
limit applies to all qualifying assets as a
12 IRC Section 179 expense deduction for California. Add line 9 and line 10, but do not
enter more than line 11. Also enter the result here and on Schedule B (100S),
group rather than to each asset individually.
Part I, line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Get federal Form 4562, Depreciation and
13 Carryover of disallowed deduction to 2016.
Amortization, for more information.
Add line 9 and line 10. Subtract line 12 from the result . . . . . . . 13
Page 2 Schedule B (100S) Instructions 2015
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