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15034: 4562 - Data Entry Screen Changes (Drake17)


Fed Returns Generally

What changes are there on the 4562 data entry screens in Drake17?

There have been several changes to the 4562 screen in data entry for all return types. 

The property type has been moved from the If Sold section to directly below the description of the asset.

​If the depreciable basis is different from the cost of the asset, you can now use the Basis ONLY if different from cost field. If the asset was placed in service on a different date than it was purchased, enter the date in the Date placed in service (ONLY if different than date acquired) field.

If an asset is taken out of service or abandoned, but not sold, you can now enter the date in the Date taken out of service IF NOT SOLD field. If the asset should also not be updated to next year, be sure to also check the box Do Not Update to next year. Abandoned property has been removed from the property type box and added to the Additional Asset Information section.

The If Sold section has been modified to allow increased functionality and options. For the changes to Installment Sales and Group sales, see the Related Links below.

 


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