Mass Change of Use when Electing 163(j) dialog

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Use this dialog to calculate mass change of use for prior year assets for activities that made the election under code section 163(j)(7)(B) or (C). Verify that you have marked the activity as making the election under 163(j)(7)(B) or (C).

  1. Open the desired client and, if necessary, click an activity folder.
  2. Choose Tasks > Mass Change of Use when Electing 163(j) to open the Mass Change of Use when Electing 163(j) dialog.
Real property trade or business

The Mass Change of use when Electing 163(j) dialog is available for any activity that

  • is marked for making the election under 163(j)(7)(B) or (C), and
  • has more than one prior-year MACRS real property assets that are not fully depreciated.
Farming business

The Mass Change of use when Electing 163(j) dialog is available for any activity that

  • is marked for making the election under 163(j)(7)(B) or (C), and
  • has more than one prior-year MACRS asset with a recovery period of 10 years or more that are not fully depreciated.
Change of use options

Summary change of use

Select this option to make the change of use changes to all selected asset at one time based on the original method and life. For example, for multiple assets that are MACRS 39.0 year real property, all of them will be updated to the new life and new ADS life.

Detailed change of use

Select this option to make the change of use changes to all selected assets at one time, while retaining the option to review the information on an individual asset-by-asset basis.

Include already changed assets

Mark this checkbox to select assets that have already been through the process for change of use.

Focus asset listing group box

Associations

For each association that maintains a list, a field appears here. Use these fields to limit the Assets available to select pane.

  • To include all assets assigned to a particular association, select (All [association]).
  • To include only assets assigned to a particular association value, select the appropriate value.
  • To include all assets that have not been assigned to a particular association, select (No [association] association). For example, to include the list of all assets not assigned to a location, select (No Location association).

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