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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.

Question

Why is the depreciation or amortization line on Schedule C, E, or F not completed when depreciation information has been entered for the activity?

Answer

The depreciation and amortization lines on these forms are not completed if 100 percent of the depreciation and amortization amounts are allocated directly to the beneficiaries in the View > Beneficiary Information > Federal tab > Other Allocations group box. If less than 100 percent is allocated to the beneficiaries, only the remaining percentage appears with the activity. If depreciation and amortization percentages have been entered in error, removing those percentages allocates the deductions to the activity.

Related topic: 1041-US: Form 4562 FAQs

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