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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.
You can combine multiple assets into one using an aggregate asset. Each asset you combine is called a component asset. The aggregate asset will have a summary total of all the component assets.
To create an aggregate asset:
- In the Asset List window, either double-click a component asset or click the Add button to create one.
- Select Edit, then Components.
- Click Add component. The the method and life default to the method and life for the previous component.
- Click the Edit Components button.
- Click the Add button.
- Enter the new component's information in the Description and Date in service fields.
- Enter the appropriate information in the Depreciation tab.
- Repeat steps 3 - 6 for each additional component of the aggregate asset.
- When you have entered all components, click Done.
Notes
- Information on the Depreciation tab can only be edited at the component level. Depreciation information on all other tabs (Disposal, Vehicle/Listed, Home Office, Other, and Image) is edited at the aggregate level.
- Components can be removed from an aggregate asset by using the Delete button in the Components for Aggregate Asset dialog. Deleted components are completely removed from Fixed Assets CS.
- The aggregate asset's Display Calculation dialog contains an Aggregate asset detail group box that lists each component asset.
- The Aggregate Asset Report provides component detail for each aggregate asset.
- An aggregate asset is created automatically when you dispose of an asset through a like-kind exchanges for IRS Notice 2000-4 and Reg. 1.168(i)-6
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