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Depreciation

Set up treatments for a client

To set up treatments
or
 change the treatment columns that are available for data entry in the
Depreciation
 tab of the
Asset Detail
 window, perform the following steps.
The treatments you choose apply only to the open client.
  1. Open the
    Asset List
     window for an activity.
  2. Select
    Setup
     then
    Treatments
    .
  3. Set up the Tax treatment:
    1. Select the Tax treatment and then select
      Options
      .
    2. In the
      Calculation
       tab, select the appropriate calculation options for the current treatment.
    3. Select the Sec 179 tab to override the application-defined section 179 limits.
    4. Select
      OK
       to return to the
      Treatments
       window.
  4. Set up the Book treatment:
    1. Mark the checkbox for the Book treatment.
    2. With the Book treatment highlighted, select
      Options
       to change the calculation options and new asset defaults.
    3. In the
      Calculation
       tab, select the calculation options for the current treatment.
    4. Select the Sec 179 tab to override the application-defined section 179 limits.
    5. Go to the
      New Asset Defaults
       tab and mark or clear the checkboxes as necessary.
    6. Select
      OK
       to return to the
      Treatments
       window.
  5. Set up the E&P treatment:
    1. Mark the
      E&P
       checkbox.
    2. Select
      Options
      .
    3. In the
      Classify
       window, select
      Continue
      .
    4. In the
      Treatment Options
       window, you can change this treatment's compliance with section 168(k), if necessary. All other fields and options aren't available.
    5. Select
      OK
       to return to the
      Treatments
       window.
  6. Set up custom treatments or state treatments:
    1. Select
      Add
      .
    2. In the Treatment Classification group box, do 1 of the following steps:
      • If you're setting up a state column, go to
        State
        and select the state from the dropdown.
      • If you're setting up a custom column, select the proper option.
    3. Select
      Continue
      .
    4. If you chose any option other than
      State
      ,
      New York City
      ,
      Straight Line for PA
      , or
      NJ 30% bonus
       for the treatment, you'll need to enter a name for the treatment in the
      Title
       field at the top of the
      Treatment Options
       window. The title needs to be 6 characters or less.
    5. In the
      Calculation
       tab, set the correct calculation options for the treatment.
    6. Select the Sec 179 tab to override the application-defined section 179 limits.
    7. Select the
      New Asset Defaults
       tab and mark or clear the correct checkboxes.
    8. Select
      OK
       to return to the
      Treatments
       window.

This article applies to:

  • Product: Fixed Assets CS
  • Return type: 1040 Individual, 1120 Corporation
  • Subject: Depreciation
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