Drake Tax - FL - Corporate Assets Duplicated

If an asset has been physically removed, but it still exists on FL screen 405D, then do one of the following –

• If you created a FL 405D screen, but not a FL 405B screen, on the FL 405D screen either:

  • check the Physically Removed 20YY box, or

  • enter a Removal Method (i.e., Retired, Sold, Traded).

  This carries the asset’s information to the correct section of the FL 405 form, but does not create a FL 405B screen.

• If you created both a FL 405B and a FL 405D screen for the same asset, delete Ctrl + D the 405D screen.

The FL program will automatically carry the Federal 4562 information to the appropriate FL 405 screen, however, any changes must be made on the FL > 405 screen as well as the federal 4562 screen. The FL program will not delete FL 405D screens automatically; you must do this manually as needed.