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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.

Specifying an activity's economic type enables the Method/Life Wizard to select the correct lives to use when Machinery, equipment, or fixture is chosen as the asset class.

To specify an activity's economic type, complete the following steps.

1. Open the Asset List window for an activity.
2. Choose Setup > Activity.
3. Select the appropriate activity and click the Edit button, or add an activity.
4. Make the appropriate selection in the Economic type field.

If you choose not to specify the activity's economic type in the Setup > Activity dialog, the application prompts you to choose an economic type the first time Machinery, equipment, or fixture is chosen in the Method/Life Wizard for an asset.

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