UltraTax CS
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.
See also: Depreciation tax assumptions
This table shows when the application performs the automatic AMT calculations.
| Real Property | Personal: New or Used | |
|---|---|---|
| MACRS: accelerated for personal, S L for real property | * | * |
| MACRS: straight-line | * | |
| Alternative Depreciation System: MACRS (150% D.B.) | * | |
| Alternative Depreciation System: MACRS (straight-line) | ** | * |
| Regular ACRS accelerated percentages | * | |
| Optional ACRS straight-line percentages | *** | |
| Straight-line | ||
| 125% declining balance | * | |
| 150% declining balance | * | |
| 200% declining balance | * | |
| Sum-of-the-year's digits | * | |
| Straight-line amortization | ||
| Memo asset (no depreciation) | ||
| Custom methods |
* Automatic AMT calc.
** Automatic AMT calc. if ADS life is not equal to 40 years
*** Automatic AMT calc. if using accelerated life
For personal property acquired after 12/31/98, AMT and the 150% election under MACRS are calculated over regular MACRS lives instead of Alternative Depreciation System lives.
For qualified section 168(k) property, the AMT treatment will calculate the same as the Tax treatment.
Was this article helpful?
Thank you for the feedback!
|
Get the most out of your Thomson Reuters Tax & Accounting products. Our continued learning packages will teach you how to better use the tools you already own, while earning CPE credit. Learn more. |
|
|
|
Chat - Best option for simple questions Call us at +1 800 968 0600. You might like to see our hours and menu options before calling |