Use the following steps to enter and update disposal information for a single asset. This information enables the application to properly calculate current-year depreciation and delete the asset after this year, when applicable.
Notes
- To dispose of two or more assets in a single transaction, create a mass disposition.
- If you are integrating with UltraTax CS, data automatically transfers to the appropriate form in UltraTax CS for any asset that is disposed through a sale or a like-kind exchange.
- Open the desired client and, if necessary, click an activity folder.
- Select the asset you want to dispose of and click the Modify button.
- In the Asset Detail dialog, click the Disposal tab.
- Do one of the following tasks.
- Click the
button to the left of the Method field to open the Disposal Wizard. The wizard guides you through the disposal process and provides on-screen explanations of the fields and options.
- Choose the appropriate method of disposal from the Method field. Fields appear in the Disposal tab that are appropriate for the chosen method of disposal.
Notes
- See the Disposal tab overview to view a description of the fields that appear for each method of disposal.
- See Disposal methods for details on each method of disposal.
- Click the
- The steps to finish entering the disposal information vary depending on the method of disposal you chose in the previous step. Click the asset's method of disposal to view information specific to that method. (Note that additional information is not available for the Out of Service and Retired methods of disposal.)
Casualty / Theft - Replacement or Casualty / Theft - No Replacement
Internal Employees