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This article applies to:

  • Product: Fixed Assets CS,UltraTax CS
  • Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization
  • Subject: Depreciation

Elect out of bonus depreciation for a single asset

To elect out of calculating bonus depreciation for a single asset, complete the following steps.
  1. If you're in UltraTax CS, select
    Asset
    . If you're in Fixed Assets CS, proceed to step 2.
  2. Select
    Modify
     to open the asset.
  3. Open the
    Other
     tab.
  4. From the
    Go Zone/168(k) (force)
     field, select
    Prop not qualified (GO Zone/168(k)/168(n))
    .
  5. Select
    Done
    .
    note
    Marking an asset as not qualified for bonus depreciation isn't the same as electing out of bonus depreciation. Marking an asset as not qualified won’t trigger the corresponding election statement to print.

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