Asset Detail dialog

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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.

See also: Overview of the asset module

Use the Asset Detail dialog to enter detailed information for new assets or to modify information for existing assets.

To open this dialog, click the Add button or the Modify button in the Asset List window.

Asset Detail toolbar

Asset Detail toolbar

Button Function

Add Asset button

Open a new asset record for the selected business activity.
Shortcut: CTRL+A

Delete Asset button

Delete the selected asset from the current business activity. When you click this button, you will be prompted to confirm that you want to delete the asset.

Cut Treatment button

Cut the selected asset treatment.
Shortcut: CTRL+X

Copy Treatment button

Copy the selected asset treatment. For example, use this feature to copy the information entered in the Tax column to the Book column.
Shortcut: CTRL+C

Paste Treatment button

Paste the selected asset treatment.
Shortcut: CTRL+V

Prior Depreciation Comparison button

Open the Prior Depreciation Comparison dialog, in which you can view a comparison of the application-calculated depreciation and the amount entered in the asset's Prior Depreciation field, located in the Depreciation tab of the Asset Detail dialog.

Note: If an asset is coded as listed property or luxury auto and was placed in service in a prior year, the Prior Depreciation Comparison dialog contains additional fields in which you can enter the business use percentages for prior years. Business use percentages entered in this dialog apply to all treatment columns in the Depreciation tab, not just the Tax column.

Shortcut: CTRL+R

Go To First Asset button

Move to the record for the lowest numbered asset for the selected business activity.
Shortcut: CTRL+PAGE UP

Go To Previous Asset button

Move to the record for the previous numbered asset for the selected business activity.
Shortcut: PAGE UP

Asset Number field

Display the number of the currently selected asset.

Go To Next Asset button

Move to the record for the next numbered asset for the selected business activity.
Shortcut: PAGE DOWN

Go To Last Asset button

Move to the record for the highest numbered asset for the selected business activity.
Print the Current Asset button

This button is not available in UltraTax CS.

Help: Asset Life button

View the MACRS Asset Life table. Refer to this table when you need information about asset lives under the MACRS depreciation method.
Shortcut: CTRL+H

Search field for the Help and How-To Center

Search the Help & How-To Center, where you can find information about windows and dialogs, step-by-step instructions, reference information, answers to frequently asked questions, and more.
Shortcut: F1 and CTRL+Y

Fields & buttons

The next available number is automatically assigned to the new asset.

Enter a description of the asset.

Required information. Enter the date the asset was placed in service.

Note: The oldest allowable date is 01/01/30. Dates from 01/01/00 to 12/31/29 are assumed to be in the 21st century.

Enter the state where the asset is held or located.

Mark this checkbox to indicate that the current asset is used property.

Note: When you mark this checkbox, the application enters Prop not qualified (GO Zone/168(k)/168(n)) in the GO Zone/168(k) (force) field in the asset's Other tab if the asset was placed in service before 9/28/2017.

The placement of association fields in the Asset Detail dialog varies depending on how the Association field order list is configured in the Setup > Associations dialog.

If an association name is preceded by an asterisk and displayed in blue, the association is used for the UltraTax CS personal property tax return for the state in which the current asset is located.

If the  button button appears to the right of the first association field, that association has been set up as the primary association for this client. Click this button to open the Association Wizard and choose the appropriate association value. The default values that were entered for all applicable associations and the default asset class (from the Method/Life Wizard) will be entered for the asset.

For more information, see Overview of associations and Setting up the Association Wizard.

Tabs in this dialog

Depreciation tab

Disposal tab

Transfer tab

Vehicle/Listed tab

Home Office tab (Individual clients only)

Other tab

Note tab

Note: A dot appears on each tab (except the Depreciation tab) in which data has been entered. Example of data indicator.


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