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Divide Asset dialog

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Use the
Divide Asset
 window to divide an asset into two assets based on tax cost, units, or percentage, or to divide an asset into multiple assets by dividing and adjusting the current asset into an equal number of assets. New assets are automatically created based on the information you enter in this window and the original asset's information is modified as required by the division.
To open this window, select
Edit
, then
Divide
.

Fields and buttons

Cost Basis / Percentage / Units / Multiple units
In the
Division by
 group box, select an option to indicate how you want to divide the asset.
  • Select
    Tax cost
     to divide an asset based on the asset's tax cost basis. If you select
    Tax cost
    , the asset's tax cost is automatically entered in
    Total tax cost in existing asset
    .
  • Select
    Percentage
     to divide an asset that consists of a single item, such as a tract of land. If you select
    Percentage
    , 100.0000 is automatically entered in
    Total in existing asset
    .
  • Select
    Units
     to divide an asset that consists of several items, such as three office chairs, into two separate assets. If you select
    Units
    , enter the asset's total number of units in
    Total units in existing asset
    .
  • Select
    Multiple units
     to divide an asset that consists of several items into a specified number of units.
Total in existing asset / Total units in existing asset
note
The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.
If you selected
Tax cost
, the asset's tax cost is automatically entered in
Total tax cost in existing asset
.
If you selected
Percentage
, 100.0000 is automatically entered in
Total in existing asset
.
If you selected
Units
, enter the total number of units in the asset you are dividing in
Total units in existing asset
.
Portion to remove / Units to remove
note
The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.
If you're dividing the asset based on Tax cost, enter the tax cost of the asset to be allocated to the new asset in
Portion to remove
.
If you're dividing the asset based on percentage, enter the percentage of the asset to be allocated to the new asset in
Portion to remove
.
If you're dividing the asset based on units, enter the number of units from the current asset to be allocated to the new asset in
Units to remove
.
note
Enter numbers as a percentage, not as decimals. For example, for 25.5%, enter
25.5
, not
.255
.
Remaining portion / Units remaining
note
The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.
The remaining portion of the asset is calculated based on the information you entered in
Total in existing asset / Total units in existing asset
 and in
Portion to remove / Units to remove
. The amount displayed in this field represents the portion of the original asset that will remain in the original asset if you divide it.
Original asset description
Enter the description of the original asset that will remain after the division.
New asset description
Enter the description of the new asset that's created by the division.
Divide and adjust current asset into this number of equal units
Enter the number of equal units into which the current asset will be divided.
note
This field is available only after you select
Multiple units
.

This article applies to:

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