1120-US: Input screens used to report the casualty or theft of assets (FAQ)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

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Question

What input screens are used to report the casualty or theft of an asset?

Answer

Use the following input screens to report the casualty or theft of an asset.

Notes

  • Screen SalePT is not applicable to C Corporations. Use Screen 4684 to report all current-year casualties or thefts for C Corporations.
  • UltraTax CS provides a return-specific option to specify the method of entering asset information: you can either enter asset information in the asset module or in the various depreciation screens. If you choose the asset module as the method of data entry, Screen 4684 is not applicable and does not appear. To enter asset information using Screen 4684, choose File > Client Properties > Advanced Properties > Enter Asset Detail tab. For more information, see Where do I enter asset data?.

Related topic: 1120-US: Casualties or thefts FAQs

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