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11756: Sorting Assets by Asset Category


Fixed Asset Manager

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:

  1. 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.

  2. 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.

  1. 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.
  2. 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.


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