Classify assets to transfer

Follow these steps to classify a single asset to transfer to the
Property
tab in the
Apportionment Information
window. You can classify assets for the following components.
  • Buildings
  • Depletable Assets
  • Equipment
  • Furniture and Fixtures
  • Land
  • Leasehold Improvements
  • Machinery
  • Other Property / Assets
  • Other Tangible Assets
  • Transportation / Delivery Equipment
  1. Select the
    Asset
    tab in the federal activity.
  2. Select
    Setup
    , then
    Associations
    .
  3. Mark the
    Apportion code
    checkbox, then
    OK
    .
    note
    UltraTax CS marks this checkbox automatically for all clients with 1 or more state returns attached.
  4. In the
    Asset List
    window, select the asset, then
    Modify
    .
  5. In the
    Asset Detail
    window, select the property factor component from the dropdown in the
    Apportion code
    field.
  6. Select
    Done
    .
    note
    • Only assets with an apportion code association transfer to the
      Apportionment Information
      window.
    • Property information transfers to the corresponding fields in the
      Apportionment Information
      window based on the situs and the apportionment code classification.
      • Assets classified with an apportionment code and with a state return situs attached to the current client transfer to the corresponding field of that state's column on the Property tab.
      • Assets classified with an apportionment code and with a blank situs or a situs of a state not attached to the current client transfer to the corresponding field in the Other column on the Property tab.

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