Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Fixed Asset Manager transfer fixed assets from S Corp to C Corp

DDRowley0923
Level 1

I am following the for:  Transferring depreciation assets between return types found in the topics.  And followed them but when I import from my existing 2020 S Corp file, I receive an exception that 0 assets have been transferred.  The S Corp has 150+ fixed assets in the file.  Has anyone else had this issue?  What am I doing wrong?

 

Thank you for your time.

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Comment 1
dd4vols
Level 10
Level 10

in FAM, did you go to File>>Client Information>>Forms and then change from 1120S to 1120,  it should rebuild and then export as C corp assets.  that is, if I am reading your question.  and if you are transferring to a different FEIN, you would need to change that also.

If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.