How do I get assets to update to ADS due to a Section 163(j)(7) election in CCH® ProSystem fx® Fixed Assets?
- Article Type:
- How To
- Last Modified:
- 11/05/2022
Objectives
N/A
Environment
N/A
Procedure
- If the client has made the Section 163(j)(7) election for all its businesses:
- Go to Client Properties.
- Click the 'Sec. 163(j)(7) electing business' box on the Basic Information tab (in the lower left-hand corner.)
- Click Yes to the message warning about method/life updates.
- Click OK to close the Client Properties Dialog.
- If there are several Activities represented in the Fixed Assets file and you only wish to make election for select ones:
- Go to the Tax Link Dialog.
- Highlight the Activity you wish to elect Sec 163(j)(7) treatment for.
- Click Edit.
- Click the 'Sec. 163(j)(7) electing business' box.
- Click Yes to the message warning about method/life updates.
- Click Apply.
- Click OK to close the Tax Link Dialog.
Additional Information
N/A
Solution Id | 000232955/How-do-I-get-assets-to-update-to-ADS-due-to-a-Section-163-j-7-election-in-CCH-ProSystem-fx-Fixed-Assets |
---|---|
Direct Link |