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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.
In the asset module, use this tab to view a summary of current-year section 179 expense, a summary of AMT Preference and Adjustment amounts, and a MACRS mid-quarter convention analysis.
Note: Assets entered in the miscellaneous activity are excluded from the summary of AMT Preference and Adjustment amounts and from the MACRS mid-quarter convention analysis.
To open this tab, open the Asset List window, choose Tasks > Display Summary Information, and then click the Tax Summary tab.
Fields & buttons
Displays the total current-year section 179 expense entered in the Tax column in the Asset Detail dialog's Depreciation tab for the current activity.
Note: The name of this field varies depending on which activity folder is selected.
Displays the total current-year section 179 expense entered in the Tax column in the Asset Detail dialog's Depreciation tab for all of the open client's activities.
These fields display the open client's total AMT Preference and Adjustment amounts for each property type (Real, Personal leased, and MACRS).
Note: Assets entered in the miscellaneous activity are excluded from the amounts displayed in these fields.
These fields display the depreciable basis of all of the open client's qualifying assets by quarter, as well as the total depreciable basis of all qualifying assets.
Note: Assets entered in the miscellaneous activity are excluded from the amounts displayed in these fields.
These fields display the percentage of depreciable basis acquired in each quarter based on the date entered in the Date in service field in the Asset Detail dialog.
Notes
- The Total field in this row always displays 100%.
- Assets entered in the miscellaneous activity are excluded from the percentages displayed in these fields.
2018 UltraTax CS
