Can depreciable assets be classified by asset location in pro series?

Forum|Forum|6 years ago
December 7, 2019
3 replies
0 views

My client operates multiple fitness gyms and I would like to track the depreciable assets by location with my pro series desk top tax software.

ProSeries Professional

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Best answer by Ernie

The way I would do this in the program would be to put a letter or a number at the beginning of the description. So a 1 for the gym on 4th street and a 2 for the gym on Mars ave, etc.

Dusty

ErnieAnswer

Level 7

The way I would do this in the program would be to put a letter or a number at the beginning of the description. So a 1 for the gym on 4th street and a 2 for the gym on Mars ave, etc.

Dusty

T

TaxGuyBill

Level 15

I haven't looked for a while, but aren't they sorted by the "placed in service" date?

IRonMaN

Level 15

I don't believe that can be done.

Slava Ukraini!

M

Marc-TaxMan

Level 7

I think you can do this if you run 2 clients: 1 for depreciation accounting; 1 for actual filing.

Individual filing Sched C? Maybe you set up each location as a different C just for depreciation with 1 C used for income and expenses; then Save As ClientFile, delete the various Cs and put all depreciation where you want it. Then print and paper file.

IRonMaN

Level 15

But then you would also have to change the links of all of the assets when you started the deletion process. An adding machine tape is probably less work than to go through all of that.

Slava Ukraini!

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