14strings
Level 3

Some tax software allows you to assign each asset to a group...say group 1...then all of the cost basis and prior deprecation shows up on one line on the 4797 and then you can enter the sales price for that group.

This way you do not have to put a sales price for each individual asset on the asset entry worksheets; also in real life an asset allocation schedule often does not specify nor assign a value to every single asset on the sellers depreciation schedule.

 

I was wondering whether ProSeries has this useful capability?

 

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