To enter amortization information, perform the following steps.
- Open the desired client and, if necessary, click an activity folder.
- In the Asset List window, click the Add button to add a new asset, or highlight an existing asset and click the Modify button.
- If you are adding a new asset, enter the asset's description, date in service, and information for any of the association fields at the top of the Asset Detail dialog.
- In the Depreciation tab, select Amortization from the Method drop-down list.
- In the Life field, enter the amortization period in years.
- Click the Other tab.
- Select the IRC section from the Amortization section drop-down list.
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