Tax Preference (TP) Code
Enter one of the codes to correctly compute California AMT depreciation. If no entry is present, the default is to the federal "TP Code."
F - Retail Motor Fuels Outlet Property. Use this code to compute Alternative Minimum Tax depreciation using the 20 year recovery period with straight-line method for 15 year property.
L - Personal Property Subject to Lease. Use this code to compute the tax preference accelerated depreciation on pre-MACRS personal property subject to lease. For proper computation, enter the life in years.
R - Real Property. Use this code to compute the tax preference accelerated depreciation on pre-MACRS real property. For proper computation, enter the life in years.
P - Amortization of Certified Pollution Control Facilities. Use this code to compute the pollution control facility adjustment and tax preference. For proper computation, enter both the "Life" and "AMT Life" in months.
Valid codes for these
| F | Retail motor fuels outlet and land improvement property |
| R | Real property pre-MACRS |
| L | Personal property subject to lease |
| P | Amortization pollution control facility |