Drake Tax - Deleting Associated 4562 Assets

Article #: 10152

Last Updated: October 18, 2024

 


Tags: Drake Tax.

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Deleting associated 4562 assets

When you delete certain data entry screens, you are prompted to decide if you want to delete associated assets. If you choose to delete associated assets on the following screens, the software automatically re-sorts any assets and schedules as necessary in order to keep the associations intact:

  • C

  • F

  • E

  • 4835

  • 8829

While this feature saves time, you should review the return data after using it to ensure that all data is accurate for the remaining forms and schedules.

Deleting associated assets on the following screens will not result in an automatic re-sort.

  • 99M - 1099-MISC

  • 99N - 1099-NEC

  • AUTO

  • W2 (if statutory income on Schedule C)

  • A

When deleting items from your return, use caution. You cannot retrieve the data once deleted. Backup the return if necessary before deleting schedules with a large number of associated assets.