Electing out of bonus depreciation for a single assest

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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

To elect out of calculating bonus depreciation for a single asset, do the following steps.

  1. If you are in UltraTax CS, click the Asset tab. If you are in Fixed Assets CS, proceed to step 2.
  2. Click the Modify button to open the asset.
  3. Open 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 will not trigger the corresponding election statement to print.

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