Activity(ies) dialog

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Fixed Assets CS uses activities to categorize all assets related to a client's business or profession. Use the Activities dialog to add, modify, or delete a business activity.

To open this dialog, choose Setup > Activities. (When the Asset List window is active and you click a multiple-unit activity folder that is currently empty, the Activities dialog opens automatically.)

Special information

Fields & buttons

This shows the form or schedule, activity unit number, description, and situs for all multiple-unit activities that have already been set up for the open client.

Fixed Assets CS allows you to define up to 250 business activities for each form or schedule that is capable of having more than one activity.

This shows the form or schedule for the selected activity.

Adding an activity: Click the arrow to the right of this field (or press F4) to open the drop-down list of multiple-unit forms and schedules available for this client, based on the client's entity type. Click a form or schedule to select it.

This shows the unit number of the selected business activity.

Adding an activity: Enter a unique number (1 - 250) to designate this activity so that you may easily distinguish among multiple units.

If all assets entered in this multiple-unit activity are in the same situs, choose the appropriate situs from the drop-down list.

Note: This field is available only if you are adding or editing a multiple-unit activity with the exception of 1065 business and COGS activities.

This shows the description of the selected business activity.

Adding an activity: Enter a description of the business activity, using up to 35 characters.

Choose whether the selected activity will use the asset classes for General, Farm, Indian Reservation, Indian Reservation Farm, or Governmental.

Based on the option you choose here, during asset data entry, the Method/Life Wizard Method/Life Wizard button button in the Depreciation tab opens a list of asset classes specific to General assets, Farm assets, Indian Reservation assets, Indian Reservation Farm assets, or Governmental assets.

Select the economic type of the selected activity. The economic type enables the Method/Life Wizard to select the correct lives to use when Machinery, equipment or fixture is chosen as the asset class.

Click this button to open the Vacation Home Percentage dialog, in which you can enter vacation home usage to calculate the allowed depreciation percentage for rental activities.

Note: This button is available only for 1040 clients when Rental is selected in the Form / Schedule field .

Click this button to open the Ohio Addback dialog, in which you can select an addback amount for 1040 Ohio activities in the open client.

Note: This button is available only for 1040 clients when Ohio is selected in the Setup > Situses dialog.

Click this button to open the Simplified Home Office dialog, where you can specify the home to which you want to apply the simplified home office deduction. (Home offices are entered in the Home Office tab of the Asset Detail dialog.)

Note: This button is available only for 1040 clients.

Click this button to open the 168(i)(4) Election dialog, where you can apply the section 168(i)(4) election to activities on Form 4562, Part III.

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