1040-US: Troubleshooting mass dispositions

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

Change to CS Support service hours

Our Support department is closed on [[date]]. However, limited UltraTax CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline.

Links to our most popular tax processing topics are available in the Alerts and notices section on the right side of most pages.

Question

I followed the instructions for mass disposition of assets but did not get the results I expected. What happened?

Answer

The mass disposition of assets feature located in the asset module is used to sell a group of like-kind assets for one sales price or to trade multiple assets for one asset. It is important that only like-kind assets should be disposed together (for example, section 1245 property with other section 1245 property). If there are different types of property grouped together, the lowest asset number in the mass asset disposition is used to determine the treatment the disposition receives. For example, if the lowest asset number in the group is Section 1245 property, then all assets selected in the mass disposition will be classified as Section 1245 property which may result in incorrect calculations of prior depreciation. 

Related topic: Business and capital asset sale information FAQs (1040)

Share This