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Depreciation

Use the Method/Life Wizard during asset data entry

Follow these steps to use the Method/Life Wizard during asset data entry.
  1. Open the
    Asset List
     window for an activity.
  2. Select
    Add
     to add a new asset.
  3. In the
    Asset Detail
     window, enter the asset's description, date in service, and information for any association fields in the
    Asset Detail
     window.
  4. In the
    Cost/basis
     field of the Tax column, enter the asset's cost/basis.
  5. Select Method/Life Wizard (or use F6) to open a list of asset classes.
  6. Select the asset class for the asset you're entering.
  7. Depending on the asset class you select, a window may open in which you need to enter more information. To view detailed information about the window, use CTRL+F1 to view the help for that window.
  8. The application either automatically fills in the methods and lives that are set up in the Method/Life Wizard, or it fills in the methods and lives that are equal to or derived from another treatment.

This article applies to:

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