Can I sort a return's 4562 assets by category?
Assets cannot be sorted by category in a return, but you can sort them by category using a Fixed Asset Manager Report.
To sort assets, follow these steps:
- Complete asset category assignment on each 4562 screen. For each asset, under the Fixed Asset Manager section of the 4562 screen, enter an Asset Category from the drop list.
Note: In Drake16 and prior, the Asset Category drop list is located under the Other Information section of the 4562 screen.
- When all assets have been categorized, exit the return. On the Home screen for Drake Tax, select Reports > Fixed Asset Manager from the menu bar. In Drake15 and prior, select from the droplists Depreciation Schedules, Federal, By Asset Category and then click Run Report. Enter the SSN/EIN of the client to run the report for a single client. The report may be printed or exported to a file.
Beginning in Drake16, Fixed Asset Manager Reports may be customized to show desired columns instead of being presented in a fixed report style. To run the Asset Category report, enter the SSN/EIN of the client, select Report Type: Depreciation Schedules, Depreciation Type: Federal, and Style: By Asset Category. Then choose what columns should appear on the report and click Run Report. The report will display and can be printed or exported to a CSV file. See "Fixed Asset Manager Reports" in Related Links below for more detailed instructions.
- For each return whose assets you want in the report, enter the SSN or EIN and click Add Client. When all returns are select, click Next to proceed.
- Follow the prompts to print the report or export to a CSV file for Excel.
Assets can be sorted in data entry in the return by form, date, life, and depreciation method. See Related Links below.