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This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization,Personal Property Tax
  • State: Florida

Set Fair Market Value to New Book Value for tangible return assets

For Florida Personal Property Tax (PPT) returns, you can populate the Fair Market Value (FMV) of each Tangible return asset with the Net Book Value entered in the Asset tab.
  1. In UltraTax CS, select
    Setup
    , then an entity type, such as
    1040 Individual
    .
  2. Select the
    Florida
     tab.
  3. Select
    New Client Options
    .
  4. Mark the
    Use Net Book Value from asset module when Fair Market Value association is blank
     checkbox.
  5. Select
    OK
     to save your changes.

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