Client Summary Information > Tax Summary tab

Show all hidden content
Use this tab to view a summary of current-year section 179 expense, a summary of AMT Preference and Adjustment amounts, and a MACRS mid-quarter convention analysis.
note
Assets entered in the miscellaneous activity are only included in the current-year section 179 expense summary.
To open this tab, open the Asset List window, select Tasks, then Display Summary Information, and then select the Tax Summary tab.

Fields & buttons

[Current Activity]: Federal
Displays the total current-year section 179 expense entered in the Tax column in the Asset Detail window's Depreciation tab for the current activity.
note
The name of this field varies depending on which activity folder is selected.
All Activities: Federal
Displays the total current-year section 179 expense entered in the Tax column in the Asset Detail window's Depreciation tab for all of the open client's activities.
Real, Personal leased, and MACRS
These fields display the open client's total AMT Preference and Adjustment amounts for each property type (Real, Personal leased, and MACRS).
note
Assets entered in the miscellaneous activity are excluded from the amounts displayed in these fields.
Acquisitions
These fields display the depreciable basis of all of the open client's qualifying assets by quarter, as well as the total depreciable basis of all qualifying assets.
note
Assets entered in the miscellaneous activity are excluded from the amounts displayed in these fields.
Percentage
These fields display the percentage of depreciable basis acquired in each quarter based on the date entered in the
Date in service
field in the Asset Detail window.
note
  • The
    Total
    field in this row always displays 100%.
  • Assets entered in the miscellaneous activity are excluded from the percentages displayed in these fields.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close