Input Defaults
The Input Defaults tab (under Asset Global Settings) allows you to setup defaults on a client by client basis.
Input Defaults tab (Asset Global Settings)
Display
Select the check box to disable the automatic prompt regarding prior year business % when entering prior year listed assets.
Calculations
Default Book to Federal Treatment- select the check box to have book depreciation default to Federal treatment.
Select the check box to suppress the calculation of state depreciation (for example if the state is a non-tax state). The mid-quarter convention box is non-editable and will be checked if mid-quarter convention applies.
MACRS Federal Elections
The Federal Section 179 dollar limit and cost threshold: Program updates will automatically keep these limits current with Federal legislation but you can override the system defaults on a per return basis as desired.
MACRS Elections for 150%, SL or ADS: Select from one of these elections per recovery period or class to default all new assets with the selected method.
See Also: