Depreciation: Choosing to not calculate bonus depreciation for a single asset

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

To not calculate bonus depreciation for a single asset, do the following:

  1. If you are in UltraTax CS, click the Asset tab. If you are in Fixed Assets CS, proceed to step 2.
  2. Click Modify to open the asset.
  3. Click the Other tab.
  4. From the Go Zone/168(k) (force) field, select Prop not qualified (GO Zone/168(k)/168(n)).

  5. Click Done.

Note: Marking an asset as not qualified for bonus depreciation is not the same as electing out of bonus depreciation.  Marking an asset as not qualified for bonus depreciation on an asset-by asset basis does not trigger the corresponding election statement to print.

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