Electronic filing guidelines for the 4562 screen

The IRS requires that you enter the following information in the following sections of the 4562 screen.
note
If you enter detailed asset information in the Asset module, UltraTax CS automatically uses these electronic filing guidelines. If you enter summary asset information in the 4562 screen, use the following data entry guidelines.

Part III: MACRS Depreciation

The
Convention
fields in this section for Part III, lines 19 and 20, column (e) Convention, need the following entries. Any other entry in these fields won't transfer to the electronic file and may cause the IRS to reject the return.
Entry
Description
200DB
200% declining balance method
150DB
150% declining balance method
DB
Declining balance method
S/L
Straight line method

Part V: Listed Property

The Method column in the statement window for Part V, line 26, column (g) Method/Convention, needs any combination of prefix and suffix of the following entries. Any other entry for the prefix or suffix in this column won't transfer to the electronic file and may cause the IRS to reject the return.
Method prefix
Convention suffix
Example of entry
Description of entry
200DB
HY
200DBHY
200% double-declining method and half-year convention
150DB
MQ
200DBMQ
200% double-declining method and mid-quarter convention
DB
MM
150DBHY
150% double-declining method and half-year convention
S/L
N/A
S/L-HY
Straight-line method and half-year convention
The Convention column in the statement window for Part V, line 27, column (g) Convention, requires the following entries. Any other entry in this column won't transfer to the electronic file and may cause the IRS to reject the return.
Entry
Description
HY
Half year
MQ
Mid-quarter
MM
Mid month

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