Electronic filing guidelines for 1065 Screen 4562

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The IRS requires that you enter the following information in the following sections of Screen 4562.

Note: If you enter detailed asset information in the Asset module, UltraTax CS automatically uses these electronic filing guidelines. If you enter summary asset information in Screen 4562, you must use the following data entry guidelines.

Part III - MACRS Depreciation

The Convention fields in this section for Part III, lines 19 and 20, column (e), Convention require the following entries. Any other entry in these fields will not transfer to the electronic file and may cause the IRS to reject the return.

Entry Description
"200DB" 200% declining balance method
"150DB" 150% declining balance method
"DB" Declining balance method
"S/L" Straight line method

Part V - Listed Property

The Method column in the statement dialog for Part V, line 26, column (g), Method/Convention requires any combination of prefix and suffix of the following entries. Any other entry for the prefix or suffix in this column will not transfer to the electronic file and may cause the IRS to reject the return.

Method prefix Convention suffix Example of entry Description of entry
"200DB" "HY" 200DBHY 200% double-declining method and half year convention
"150DB" "MQ" 200DBMQ 200% double-declining method and mid-quarter convention
"DB" "MM" 150DBHY 150% double-declining method and half-year convention
"S/L" S/L-HY Straight-line method and half-year convention
The Convention column in the statement dialog for Part V, line 27, column (g), Convention requires the following entries. Any other entry in this column will not transfer to the electronic file and may cause the IRS to reject the return.
Entry Description
HY Half year
MQ Mid quarter
MM Mid month

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