New (tax) year, new help!
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.
The IRS requires that you enter the following information in the following sections of Screen 4562.
Part III - Depreciation for Current Year Additions
The Convention fields in this section require the following entries. Any other entry in these fields causes the IRS to reject the return.
Entry | Part III, lines 19 & 20, column E convention |
---|---|
HY | Half year |
MQ | Mid quarter |
MM | Mid month |
Part V - Listed Property
The Convention column in the statement dialog for the Property used less than 50% field requires the following entries. Any other entry in this column causes the IRS to reject the return.
Entry | Part V, line 26, column G convention |
---|---|
HY | Half year |
MQ | Mid quarter |
MM | Mid month |
PRE | ACRS |
Tip: For details on other input screens and their corresponding guidelines for creating IRS-acceptable electronic files, see the following topics.
- 1120 IRS filing deadlines & electronic filing information
- Electronic filing FAQs
- Electronic filing guidelines for 1120 Screen 4562
- Electronic filing with multiple installations of UltraTax CS and/or multiple client data locations
- Configuring UltraTax CS for 1120 electronic returns overview
- Entering data for 1120 electronic returns overview
- Creating the 1120 electronic file and correcting errors overview
- Transmitting electronic 1120 returns via CS Connect overview
- UltraTax/1120 electronic filing overview
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