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Asset Detail > Other tab
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Use the Other tab of the Asset Detail window to enter miscellaneous information.
To open this tab, perform one of the following steps.
- If the asset has already been added, select it in the Asset List window, select the Modify button, and then select the Other tab.
- If the asset hasn’t yet been added, select the Add button in the Asset List window, complete the information in the Depreciation tab, and then select the Other tab.
Fields & buttons
General Information group box
Date acquired
Enter the acquisition date for the current asset if it differs from the in-service date entered at the top of the Asset Detail window.
note
The acquired date is only reported on personal property tax returns and is not used in the depreciation calculations.
Section 168(f)[1]
Mark this checkbox if you elected to depreciate this asset using either the Units of Production method or a custom method.
Section 179 elected when a C Corporation (1120 Only)
Mark this checkbox if the section 179 expense was elected when the corporation was a C corporation. If this checkbox is marked, the gain or loss generated during a disposal transfers to Form 4797 instead of the Section 179 Disposal Worksheet within the Shareholder Packages.
Section 743(b) adjustment (1065 only)
Mark this checkbox to include the asset as a 743(b) adjustment. To include the asset on a partner K-1, in UltraTax CS, specially allocate the depreciation for each 743(b) asset.
Tracking partner's outside basis (1065 only)
Mark this checkbox if this asset is used to track a partner's outside basis for a 1065 client. If this checkbox is marked, the asset won’t be included on any form printed from the application by default.
Include memo asset on balance sheet
Mark this checkbox to include this asset in the Balance Sheet Detail report if Memo is selected as the treatment's depreciation method.
Exclude memo asset from non PPT reports
Mark this checkbox to exclude memo assets from non PPT reports. This checkbox is available to be marked if any treatment on the Depreciation tab has the method of memo. The asset will only be excluded from non PPT reports for a treatment if the method is memo. The asset will be included on the Property Detail report when this option is marked.
Exclude asset from qualified income deduction
The
Exclude asset from qualified income deduction
checkbox is only available for assets that qualify for the qualified business income deduction.Assets qualify if they meet one of the following criteria:
- It has been 10 years or less from the date it was placed in service, or
- It has been greater than 10 years the asset was placed in service but the asset is still within its recovery period, or the last full year of the recovery period.
The checkbox is only available for the following entities/activities:
- 1040 - Business, Bus COGS, Rental, Farm, Farm Rental
- 1120S - Business, COGS, Rental, Farm, Farm Rental
- 1065 - Business, COGS, Rental, Farm, Farm Rental
- 1041 - Business, Bus COGS, Rental, Farm, Sch K-1
- 990 - OP, OP COGS, Rental
note
To mark that an activity qualifies for Section 199A go to Setup, then Activity, then select
Yes
in the field Qualifies as trade or business for Section 199A
.Example
- An asset is purchased on 7/1/02 and uses the MACRS 5 year. Since 10 years after the purchase date is 7/1/12 this asset won’t be included in the report.
- A machine is purchased on 7/1/12 using MACRS 5 year. Since 10 years after it was placed in service is 7/1/22, it is within the ten year period and the machine is qualified property.
Basis for business income deduction (force)
Use this field to force the Basis for business income deduction. The amount that you enter here will be used as the cost basis on the Qualified Property report, and it will also change the amount that the tax return uses if you are using UltraTax. This field is available when you mark the that the activity qualifies as a trade or business for Section 199A Activity in the Setup menu.
Qual sec 179 real prop
If the current asset is qualified section 179 real property, select the type of qualified real property from the dropdown list.
note
- This field is available for assets placed into service in 2011 through 2019.
- This field is available for the current asset ifDesignate as Real Propertyis selected in the Tasks menu.
- The type of qualified real property is automatically selected in this field if one of the following asset classes is selected from the Method/Life Wizard for the asset.
- Leasehold improvement (qualified)
- Restaurant building improvement
- Retail improvement
990 investment property
Mark this checkbox to indicate that the current asset is 990 investment property.
note
This checkbox is available only for 990 clients.
990 PSA code
Select the appropriate program service accomplishment (PSA) code.
note
This field appears only in the Indirect activity for 990 clients.
Amortization section
If you indicated in the
Method
field of the Depreciation tab that the asset is to be amortized, choose the amortization code from the dropdown list.GO Zone/168(k) (force)
To force an asset to calculate bonus depreciation, select the appropriate type from this field.
note
- If you enter a force type in this field and are calculating the AMT and/or ACE treatment for the current asset, you need to go to Tasks, then Generate AMT and selectGenerate ACE.
- Bonus depreciation is automatically calculated for assets placed in service between 9/11/01 and 12/31/04 or 1/1/08 and 12/31/26 for treatments that comply with the section 168(k) bonus and are depreciated by:
- any MACRS method (except MACRS SL ADS Life or MACRS 150% ADS Life), as long the MACRS class life hasn’t been elected out.
- amortization with167 - Computer softwareselected in theAmortization sectionfield in the Other tab, as long as the Computer 167 class life hasn’t been elected out.
- Fixed Assets CS automatically calculates bonus depreciation for assets marked as located in the GO Zone between 8/28/05 and 12/31/07 for treatments that comply with the GO Zone bonus and are depreciated by:
- any MACRS method (except MACRS SL ADS Life or MACRS 150% ADS Life), as long the MACRS class life hasn’t been elected out.
- amortization with167 - Computer softwareselected in theAmortization sectionfield in the Other tab, as long as the Computer 167 class life hasn’t been elected out.
- Bonus depreciation is automatically calculated for assets marked as located in a Disaster Area after 12/31/07 and occurring before 1/1/10 for treatments that comply with the Disaster Area bonus and are depreciated by:
- any MACRS method (except MACRS SL ADS Life or MACRS 150% ADS Life), as long the MACRS class life hasn’t been elected out.
- amortization with167 - Computer softwareselected in theAmortization sectionfield in the Other tab, as long as the Computer 167 class life hasn’t been elected out.
Memo 1
Use this field to enter a general memo regarding this asset.
Memo 2
Use this field to enter a second general memo regarding this asset.
Mid-Quarter & Section 179 Force Options button
Select this button to open a window in which you can do the following tasks.
- Force an asset to be included in or excluded from the mid-quarter determination.
- Force an asset to calculate using the mid-quarter convention.
- Force an asset to be considered eligible section 179 property.
- Prevent an asset from being considered eligible section 179 property.
Credit Information button
Select this button to open a window in which you can enter investment credit, Hawaii excise tax credit, and Alternative motor vehicle credit information.
note
This button is available if one the following conditions are present.
- Credit code R, C, I, A, L, N, or O is entered in theCreditfield in the asset's Depreciation tab
- 1040 clients are calculating a state treatment of HI, ID, ME, NY, OR, or RI
- 1120 clients are calculating a state treatment of HI, ID, ME, SC, or WI
- 1065 clients are calculating a state treatment of HI or ME
- 1041 clients are calculating a state treatment of ME
Associations group box
Associations
The placement of association fields in the Asset Detail window varies depending on how the Association field order list is configured in the Associations window in the Setup menu.
If an association name is followed by an asterisk and is displayed in blue, the association is used for the UltraTax CS personal property tax return for the state in which the current asset is located.
If the 
button appears to the right of the first association field, that association has been set up as the primary association for this client. Select this button to open the Association Wizard and select the association value. The default values that were entered for all applicable associations and the default asset class (from the Method/Life Wizard) will be entered for the asset.
button appears to the right of the first association field, that association has been set up as the primary association for this client. Select this button to open the Association Wizard and select the association value. The default values that were entered for all applicable associations and the default asset class (from the Method/Life Wizard) will be entered for the asset.note
If you are using three or fewer associations, no fields appear in the Associations group box.