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Disposal > Book Calculation dialog
Use this window to view and adjust the asset's Book calculation.
After opening the window for the asset, select the
Asset Detail
Disposal
tab. The Book Calculation
button is available when you select either Casualty/Theft - No Replacement
, Casualty/Theft - Replacement
, or Like-Kind Exchange
from the dropdown list in Method
. Select the Book Calculation
button to open this window.note
This button is available only if the window for the Book treatment.
Follow GAAP calculations for disposals
checkbox is marked in the Setup
, Treatments
, then Options
Fields & buttons
note
The fields that appear in this window vary depending on the method of disposal.
FMV of asset received as reimbursement
This field displays the fair market value of the asset that was received as reimbursement for the Casualty / Theft - Replacement asset.
note
This field is available only if the asset was disposed of using the Casualty / Theft - Replacement method of disposal.
Book adj basis of original asset
This is the original basis of the asset calculated with depreciation allowed or allowable. (Depreciation allowed or allowable is the greater of depreciation that should have been taken or the depreciation actually taken.)
Reset button
Select this button to recalculate the Book adjusted basis of the original asset based on changes you may have made to current- or prior-year depreciation.
Gain/(loss) recognized
The application calculates the gain recognized or the loss realized on the exchange and displays it in this field.
To view an on-screen explanation of how the application calculated the gain/loss recognized, select the underlined field label to open the window.
Recognized Gain/Recognized (Loss)
Select
Print
to print the calculation explanation.Gain deferred
The application calculates and displays the deferred gain in this field.
To view an on-screen explanation of how the application calculated the deferred gain amount, select the underlined field label to open the Deferred Gain window.
Select
Print
to print the calculation explanation.note
This field is available only for the Casualty / Theft - Replacement and Like-Kind Exchange methods of disposal.
The following fields are available only if the asset was disposed of through a like-kind exchange.
FMV of asset given up
Enter the FMV (fair market value) of the like-kind property given to the other party in the exchange.
note
This field is available only if the asset was disposed of using the Like-Kind Exchange method of disposal.
Transaction significant (all gain recognized)
Mark this checkbox if the acquisition of this asset is a significant transaction, in that all gain is recognized.
note
This checkbox is available only for like-kind exchanges.