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Depreciation

Reassign assets to a different activity, situs, or association

Follow these steps to reassign an asset to a new business activity, situs, or association.
  1. Open the client and, if necessary, select an activity folder.
  2. Select
    Edit
    , then
    Reassign Assets
    .
  3. Select the asset you want to reassign in the Assets available to reassign pane, then
    Select
     to move the asset to the Assets to reassign pane.
  4. In the Reassign to group box, select the category (activity, situs, or association) and the value where you want to reassign the asset.
    note
    • When
      Activity
       is selected as the category, you can select all non-multiple-unit activities and multiple-unit activities set up for the client.
    • When
      Situs
       is selected as the category, you can select any situs from the dropdown list.
    • Multiple-unit activity assets are assigned to a situs according to the activity in which they reside. You can reassign assets that aren't in a multiple-unit activity to a different situs through the
      Reassign Assets
       window. To change the situs,
      open the UltraTax CS input screen for that activity and edit the state ZIP Code in the General Information section.
    • For clients in a tax year beginning 12/31/16 and later, the Business and COGS folders are now multi-unit, enabling assets to be reassigned to a situs. Before 12/31/16 these folders won't be multiple-units.
    • When an association is selected as the category, you can select any item set up for that association, or you may select no association.
  5. Select
    Reassign
     to move the selected asset to the new activity, situs, or association.

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