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Reports in the tax category
There are many standard reports available in Fixed Assets CS. The following are the reports that are available in the Tax category.
note
- These reports pertain to the open client.
- Each report may include all or selected assets.
- The non-summary reports also include customizable asset-sequencing options (sorting, subtitles, subtotaling, and page breaks).
- You can print reports for a specific category only if that treatment category is enabled.
To access the following reports in the Tax category, select
File
, Print
, then select Tax
from the dropdown in the Category
field.- Tax Asset Detail: Complete asset information for the current fiscal year, organized by group (default setting). You may also choose to have the application make current depreciation equal to the year-to-date depreciation.
- Tax Aggregate Asset Detail: Component asset information for aggregate assets, organized by asset number.
- Tax Balance Sheet Detail: Depreciation data, organized by the lines on the balance sheet.
- Tax Current Year Additions: Year-to-date asset information for the current fiscal year, by group (default setting). For each asset, includes the asset number, description, date in service, and cost. Only assets acquired in the current fiscal year are shown.
- Tax Current Year Disposals: Year-to-date disposal data (excluding retired and out-of-service assets).
- Tax Future Depreciation: Depreciation data for a future year, organized by asset group (default setting). The year defaults to next fiscal year but may be set to the current or any future year.
- Tax Group Summary: Beginning and ending costs and depreciation, by group. You may also choose to have the application make current depreciation equal to the year-to-date depreciation.
- Tax Journal Entry Report: Complete listing of the "proposed" journal entries by reference number. Use this report to verify that Fixed Assets CS has the necessary information to make a correct journal entry to Accounting CS or Creative Solutions Accounting (Write-Up CS or Trial Balance CS).
- Tax Location Summary: Beginning and ending costs and depreciation by location. You may also choose to have the application make current depreciation equal to the year-to-date depreciation.
- Tax MACRS Convention Detail: A listing of MACRS current-year assets that are included in the mid-quarter convention test. Contains subtotals for the last 3 months of the current tax year and the remaining months.
- Tax Property Detail: Asset information organized by date in service (default setting) or by property type (optional setting), as required for some state or local property taxes. You may also specify a different year for this report to begin analyzing client data.
- Tax Yearly Comparative Depreciation: 7 years of comparative depreciation data, beginning with the current year (default) or any future year that you specify.
- Tax Start-up/Org Expense Detail: A listing of start-up/organizational assets for the current fiscal year.
- Tax State Depreciation Adjustment: Calculates the add back amount for states that require an add back of a percentage of the bonus depreciation taken on federal Form 4562 and/or 2106. The following states require an add back: Florida, Illinois, Kansas, Minnesota, Nebraska, North Carolina, Ohio, Pennsylvania, and Wisconsin.
- Tax Current Year Transfers: Year-to-date transfer data.
- Tax Summary Report: Beginning and ending costs and depreciation by group (default). To change the default, selectPrint,Options, then the Presentation tab.
- Tax Qualified Property Report: A listing of assets that qualify for the Qualified Business Income Deduction (Section 199A).
This article applies to:
- Product: Fixed Assets CS