Divide Asset dialog

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Use the Divide Asset dialog to divide an asset into two assets based on tax cost, units, or percentage, or to divide an asset into multiple assets by dividing and adjusting the current asset into an equal number of assets. New assets are automatically created based on the information you enter in this dialog and the original asset's information is modified as required by the division.

To open this dialog, choose Edit > Divide.

Fields & buttons

In the Division by group box, click an option to indicate how you want to divide the asset.

  • Click the Tax cost option to divide an asset based on the asset's tax cost basis. If you select Tax cost, the asset's tax cost is automatically entered in the Total tax cost in existing asset field.
  • Click the Percentage option to divide an asset that consists of a single item, such as a tract of land. If you select Percentage, 100.0000 is automatically entered in the Total in existing asset field.
  • Click the Units option to divide an asset that consists of several items, such as three office chairs, into two separate assets. If you select Units, enter the asset's total number of units in the Total units in existing asset field.
  • Click the Multiple units option to divide an asset that consists of several items into a specified number of units.

Note: The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.

If you selected Tax cost, the asset's tax cost is automatically entered in the Total tax cost in existing asset field.

If you selected Percentage, 100.0000 is automatically entered in the Total in existing asset field.

If you selected Units, enter the total number of units in the asset you are dividing in the Total units in existing asset field.

Note: The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.

If you are dividing the asset based on Tax cost, enter the tax cost of the asset to be allocated to the new asset in the Portion to remove field.

If you are dividing the asset based on percentage, enter the percentage of the asset to be allocated to the new asset in the Portion to remove field.

If you are dividing the asset based on units, enter the number of units from the current asset to be allocated to the new asset in the Units to remove field.

Note: Enter numbers as a percentage, not as decimals. For example, for 25.5%, enter 25.5, not .255.

Note: The name of this field changes depending on which option, Tax cost, Percentage, or Units, is selected.

The remaining portion of the asset is calculated based on the information you entered in the Total in existing asset / Total units in existing asset field and in the Portion to remove / Units to remove field. The amount displayed in this field represents the portion of the original asset that will remain in the original asset if you divide it.

Enter the description of the original asset that will remain after the division.

Enter the description of the new asset that is created by the division.

Enter the number of equal units into which the current asset will be divided.

Note: This field is available only after you click the Multiple units option.

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