Energy Tax Credit Listing [R0307]

End of Period: This process can be run interactively through this update or seleted to run as either a special month-end or year-end version during EOP End of Month and/or End of Year. As an EOP module, the process is:

EOP Only	Yes*
Frequency	Monthly/Yearly
Sequential Updates	No
Skip Notes	No restrictions

*The special month-end and year-end versions of this report are only available through EOP End of Month and End of Year respectively, but are otherwise the same as the interactive versions, using the same processing but with selection criteria specific to either End of Month or End of Year.

The EOP End of Year version of this report is also known as U0483 Energy Tax Credit Listing (EOY).

For more information about End of Period, refer to U04 End of Period Overview.

 

The Energy Tax Credit Listing report [R0307] provides a year-to-date detailed accounting of the Energy Tax Credit for each applicable asset.

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 elements:

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

 

Energy Tax Credit Listing 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 Listing

The Energy Tax Credit Listing report [R0307] reports at the asset level and includes the following information:

• LEASE
  The lease number is displayed.
  
  
• ASSET
  The asset number is displayed.
  
  
• LESSEE SHORT NAME
  The short form of the lessee name is displayed.
  
  
• IN-SERV DATE
  The date the asset was placed in service, as entered through the Add Asset option of the New Lease update [U0101], is displayed. The in-service date is the starting date for ETC. Only assets with an in-service date before January 1, 1986 are reported on.
  
  
• ACT STAT
  The short symbol for the asset status is displayed (e.g., NLSE = New on lease). Refer to Appendix F for a list of all asset status codes and their meanings.
  
  
• UNADJUSTED BASIS
  The unadjusted basis (acquisition cost) of the asset is displayed.
  
  
• QUALIFIED INVESTMENT
  The qualified investment is the basis upon which the Energy Tax Credit is calculated and displayed. This figure is based on the unadjusted basis and the applicable percentage (ranging from 33 1/3% to 100%).

  Qualified Investment Calculation Table

  Non-ACRS		ACRS
  %	Life	%	Life
  0%	< 3 years	60%	3 years
  33 1/3%	3 - <5	100%	5 years
  66 2/3%	5 - <7
  100%	7 & up

• YEAR TO DATE ETC
  The year-to-date ETC is the amount to claim for the year's taxes. It is calculated by taking a percentage of the QUALIFIED INVESTMENT (10%, 11% or 15%).
  
  
• TOTALS/GRAND TOTALS
  Page totals for number of assets and all dollar amounts are shown for each office by depreciable life, recovery or non-recovery, and ETC method. 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 or 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.

 

LeasePak 7.6a Documentation Suite

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