Energy Tax Credit Review [R0308]

The Energy Tax Credit Review report [R0308] provides a year-to-date summary of the Energy Tax Credit to be taken. It is formatted to assist in the preparation of the Internal Revenue Service forms.

Only assets with an ETC method other than BYPS or an in-service date before January 1, 1986 are reported on.

The report may be accessed through the Controllers Tax report menu [R03] and may be selected interactively for:

• All assets
• A portfolio
• A company
• A region
• An office

The report may be automatically generated for each portfolio at the end of the month and the end of the year through the End of Day update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created. (The end of month and the end of year reports are listed separately.)

The report is organized by all of the following:

• Portfolio, Company, Region, Office
• Recovery (post 1981), Non-Recovery (pre 1981)
• Depreciable Life (e.g., 15 years)
• ETC Percentage (10%, 11%, 15%)

 

Energy Tax Credit Selection

• ALL
  Enter 'X' to report on all assets with an ETC method other than 'BYPS' or an in-service date before January 1, 1986. Leave blank to report on a specific portfolio, company, region, and/or office.
  
  
• PORT
  Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.
  
  
• COMP
  Enter the number of the company upon which to report. Leave blank if reporting across companies.
  
  
• REGN
  Enter the number of the region upon which to report. Leave blank if reporting across regions.
  
  
• OFFIC
  Enter the number of the office upon which to report. Leave blank if reporting across offices.

 

Energy Tax Credit Review

The Energy Tax Credit Review report [R0308] is comprised of 8 columns. The first 4 columns provide information for ETC taken and the remaining 4 provide information for ETC reversed. Information is accumulated and reported at the office level.

• ASSETS
  The number of applicable assets (ETC taken) is displayed.
  
  
• UNADJUSTED COST
  The total acquisition cost of the applicable assets is displayed.
  
  
• ADJUSTED COST
  The total amount upon which is calculated the amount of ETC available is displayed. This figure is calculated using the UNADJUSTED COST, the ETC method and the depreciable life.
  
  
• ETC TAKEN
  The total amount of ETC to be taken for tax purposes for the current year is displayed. This figure is a percentage of the ADJUSTED COST.
  
  
• ASSETS
  The number of sold assets for the category is displayed.
  
  
• UNADJUSTED COST
  The total acquisition cost of the sold assets is displayed.
  
  
• ADJUSTED COST
  The total amount upon which is calculated the amount of ETC to be reversed is displayed. This figure is calculated using the UNADJUSTED COST, the ETC method and the depreciable life.
  
  
• ETC REVERSED
  The total amount of ETC to be returned to the Internal Revenue Service because of early property dispositions in the current year is displayed. This figure is a percentage of the ADJUSTED COST.
  
  
• TOTALS/GRAND TOTALS
  Page totals for number of assets and all dollar amounts are shown for each office, segregated by depreciable life, recovery and non-recovery, and ETC percentage. For example:

  3 YEAR ETC for post-1981 3-year assets
  OTHER ETC for post-1981 non-3-year assets

  RECOVERY post-1981 total
  >= 3, < 5 ETC for pre-1981 3 to 5 year assets
  >= 5, < 7 ETC for pre-1981 5 to 7 year assets
  >= 7 ETC for pre-1981 7+ year assets

  NON-RECOVERY pre-1981 total

10% 10% ETC total

Region, company, portfolio and grand totals are shown for the number of assets and all dollar amounts by depreciable life, recovery and non-recovery, and ETC percentage (10%, 11%, or 15%).

 

Additional Information

The term "recovery" refers to assets placed in-service on or after January 1, 1981. "Non-recovery" refers to assets placed in-service before January 1, 1981.

 

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