This article applies to:

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

Enter amortization information

Follow these steps to enter amortization information

in the asset module

.

note

If you're entering summary asset information instead of using the asset module, enter amortization information in the

Statement

window attached to the Amortization detail
field in Screen 4562.

Open the

Asset List

window for an activity.

In the

Asset List

window, select Add
to add a new asset, or select an existing asset then Modify
.

If you're adding a new asset, enter the asset's description, date in service, and information for any of the association fields.

In the Depreciation
tab, select Amortization
from the Method
dropdown.

In the Life
field, enter the amortization period in years.

Select the Other
tab.

Select the IRC section from the Amortization section
dropdown.