Managing Depreciation Assets More Efficiently with ProConnect Tax

The TY25 Fixed Asset enhancements focus on workflow and usability improvements. No depreciation calculations, tax rules, or elections have changed. Enhancements include:

• The ability to import activity numbers with depreciation assets
• New filters in the depreciation asset grid
• Improved navigation between asset detail screens

These changes help reduce repetitive data entry, improve accuracy, and streamline asset review.

Who does this apply to:

• Returns with a large number of depreciable assets
• Multi-activity partnership and S corporation returns
• Preparers who frequently review or edit depreciation details
• Firms importing depreciation data from external sources

Table of contents:

Importing depreciation assets with activity numbers

In prior tax years, depreciation imports did not include activity numbers. After import, users were required to manually select an activity for each asset.

For TY25, activity numbers can now be included during the import process. When provided in the import file, ProConnect Tax automatically assigns the activity to each asset. Now it:

• Eliminates the need to manually assign activities asset by asset
• Reduces setup time for returns with many assets
• Helps ensure assets are associated with the correct activity from the start

This is especially helpful for partnership, S corporation, and multi-activity returns.

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Using the enhanced depreciation asset grid

The depreciation asset grid now includes filters that allow you to narrow the displayed assets by:

• Form
• Activity name or number
• Category

You can apply one or more filters to display only the assets relevant to your current task.

With these filters, you can:

• Focus on a single activity or form without scrolling through all assets
• Reduce visual clutter for returns with large depreciation schedules
• Review and troubleshoot depreciation more efficiently

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Navigating between asset details more efficiently

Asset-to-asset navigation

When viewing an individual asset’s details, you can now switch directly to another asset using tabs or the View All dropdown menu. There’s no need to return to the main asset grid between edits.

Filter-aware navigation

If you’ve applied filters in the asset grid, the asset dropdown respects those filters. Only assets included in the filtered view appear in the dropdown.

Persistent asset identification

The asset name remains visible at all times while viewing asset details. This helps confirm which asset you’re working on and reduces the risk of editing the wrong record.

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Related articles

• Special Depreciation Allowance Direct Input in ProConnect Tax
• Using book depreciation for Schedule L, Balance Sheets per Books in ProConnect Tax
• Common Questions about Corporate Depreciation Disposition Overrides in ProConnect Tax