Entering data for the State Asset Worksheet (706)

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The State Asset Worksheet lists the assets' schedule letters and item numbers by state based on entries made on Screen Asset, but does not list any deductions. This worksheet is useful when preparing state returns.

To ensure that the assets appear on the correct worksheet, complete the following steps.

  1. Choose File > Open Client to open the desired client.
  2. Click the Asset folder, then click the Asset tab.
  3. Enter property descriptions and amounts.
  4. If the asset's location is not the same state entered in the Domicile at death: state field on Screen 706, enter that asset's two-letter abbreviation in the State field. If the State field is blank, UltraTax CS assumes that the asset's location is the same state entered in the Domicile at death: state field.
  5. Repeat for other assets on Screen Asset.

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