Reassign assets to a different activity, situs, or association
Follow these steps to reassign an asset to a new business activity, situs, or association.
- Open the client and, if necessary, select an activity folder.
- SelectEdit, thenReassign Assets.
- Select the asset you want to reassign in the Assets available to reassign pane, thenSelectto move the asset to the Assets to reassign pane.
- In the Reassign to group box, select the category (activity, situs, or association) and the value where you want to reassign the asset.note
- WhenActivityis selected as the category, you can select all non-multiple-unit activities and multiple-unit activities set up for the client.
- WhenSitusis selected as the category, you can select any situs from the dropdown list.
- Multiple-unit activity assets are assigned to a situs according to the activity in which they reside. You can reassign assets that aren't in a multiple-unit activity to a different situs through theReassign Assetswindow. To change the situs,open the UltraTax CS input screen for that activity and edit the state ZIP Code in the General Information section.
- For clients in a tax year beginning 12/31/16 and later, the Business and COGS folders are now multi-unit, enabling assets to be reassigned to a situs. Before 12/31/16 these folders won't be multiple-units.
- When an association is selected as the category, you can select any item set up for that association, or you may select no association.
- SelectReassignto move the selected asset to the new activity, situs, or association.
