Dispositions Tab
The Fixed Assets form allows you to record and calculate several types of dispositions such as Sale/Abandonment, Installment Sales, gains and losses from a Casualty/Theft, Like Kind Exchanges, and Conversion to Personal Use. There is also a Do not calculate gain/loss option available.
Be sure to enter all requested information pertaining to any disposition to ensure proper calculation and data flow to associated forms when applicable.
By default, the Dispositions tab appears as pictured below:
Dispositions tab (Default)
If Sale/abandonment is selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Sale/abandonment)
Select Bulk Disposition if multiple assets were involved in the Sale/abandonment.
If Installment Sale is selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Installment sale)
Select Bulk Disposition if multiple assets were involved in the Installment sale.
Be sure to enter the appropriate information on the Install Sale Info tab and the Related Party tab (if applicable) to ensure proper calculations and data flow.
If Casualty/Theftis selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Casualty/theft)
Be sure to enter the appropriate information on the Casualty/Loss Info tab to ensure proper calculations and data flow.
If Like-Kind Exchange is selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Like-kind exchange)
Be sure to enter the appropriate information on the Exchange Info tab to ensure proper data flow to Form 8824.
The Replacement Asset Info tab contains detailed information on how ATX handles exchanges and the options available to you when entering an exchange.
If Converted to personal use is selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Converted to personal use)
If Do not calculate gain/loss is selected as the disposition type, the Dispositions tab appears as pictured below:
Dispositions tab (Do not calculate gain/loss)
See Also: