EFTA01220829.pdf

Asset Entry Worksheet 2014 QuickZoom to another copy of Asset Entry Worksheet . . Name(s) Shown on Return Social Security Number Activity: Asset Information • For vehicles, use the Car and Truck Expenses Worksheet 1 Description of asset Example: Laser printer 2 Date placed in service Example: 06/15/2014 3 Enter the total cost when asset was acquired . Include land for asset type I, J or M 4 Type of asset Range: 1.00 to 100.00 5 Percentage of business use If blank, 100.00% is used. Applicable for asset type A-G, P, Q. 6 Enter the amount of Sec 179 expense elected . Subject to limitation. See Tax Help. 7 Total amount of land included in the cost . . . . Applicable for asset type I, J or M 8 a Economic Stimulus - Qualified Property Yes No b Qualified Second Generation/Cellulosic 8lofuel/Biomass Plant Property Yes ^ No c Qualified Disaster Area - Qualified Property Yes ^ No d Kansas Disaster Zone - Qualified Property Yes No e Gulf Opportunity Zone - Qualified Property Reg Ext No f In service in GO Zone Ext bldg within 90 days of bldg in-service date . . . e Yes ^ No WA g Percentage for Special Depreciation Allowance C 100% & 50% 30% WA h Elect OUT of Special Depreciation Allowance Yes No I Elect 30% in place of 50% Special Depreciation Allowance Yes No j OulekZoom to view the Election statements k Special Depreciation Allowance Deduction . . . I AMT Special Depreciation Allowance Ded. . . . If blank, prior depreciation from Asset Life History is used. 9 Prior depreciation Required if asset was sold. 10 Depreciation deduction If blank, prior depreciation from Asset Life History is used. 11 AMT prior depreciation Required if asset was sold. 12 AMT depreciation deduction 13 AMT adjustment/preference See Tax Help for computation 14 QuickZoom to Asset Life History 15 If a computer or peripheral equipment (asset type A), was asset used exclusively at your regular business establishment? El Yes I- 1 No 16 If video, photo, or phono equipment (asset type B), was asset used exclusively at your regular business establishment, or in connection with your principal trade or business9 EI Yes I- 1 No 17 If rental appliances, carpeting, or furniture (asset type F), have you amended a prior year tax return or filed Form 3115 to change the recovery period to 5 years? D Yes I- 1 No 18 Enter the IRC section under which you amortize the cost of intangibles (asset type L) EFTA01220829  Page 2 DiSpoSitions — Complete only if you sold, abandoned, or otherwise disposed of the asset in 2014 19 Date sold, given away, or abandoned in 2014 Example: 12/01/2014 20 Date acquired, if different from line 2 If converted from personal use 21 Asset sales price Enter business portion only 22 Asset expense of sale Enter business portion only 23 Property type 24 Land sales price Enter business portion only 25 Land expense of sale Enter business portion only 26 Section 179 deduction allowed 27 If Section 1250: a Additional depreciation after 1975 b Applicable percentage c Additional depreciation after 1969 and before 1976 28 a Double click to link sale to Form 6252 b Double click to link sale to Home Sale Wks . . . 29 Basis for gain or loss, if different from In 3. . . . Enter 100% of basis 30 Basis for AMT gain or loss, if diff from In 53 . . Enter 100% of basis 31 Gain or loss 32 AMT gain or loss 33 Part of Form 4797 that gain or loss carries to 34 Land gain or loss (if separate) Only applies if line 24 is entered 35 Part of Form 4797 that land gain or loss carries to (if separate) 36 Check to compute personal residence depreciation after May 6, 1997 Regular tax after 516197 . . . AMT after 516(97 O Detail Asset Information - This section is calculated for most assets from the data above. Use Find Next Error feature to check for any required entries. 37 Listed property? Yes No See Tax Help 38 Subject to automobile limitations? Yes No 39 Truck or van? Yes No 40 Electric Passenger Vehicle? Yes No 41 Heavy SUV' Yes No 42 Eligible Section 179 property? Yes No Applies to current year assets only 43 Use IRS tables for MACRS property? . . Yes No 44 Qualified Indian reservation property? . . Yes No Regular Depreciation 45 Depreciation Type 46 Asset class 47 Depreciation Method 48 MACRS convention 49 QulckZoom to set 2014 convention 50 Recovery period 51 Year of depreciation 52 Depreciable basis See Tax Help for computation Alternative Minimum Tax Depreciation 53 AMT basis, if different from line 3 54 If placed in service before 1987, is asset . . . 55 AMT depreciation method 56 AMT recovery period 57 AMT depreciable basis EFTA01220830  Page 3 MACRS Property Involved in a Like-kind Exchange or Involuntary Conversion 58 Elect OUT of regs under Sec 1.168(i)-6(i) ri Yes ri No ri N/A 59 Asset ID (Enter same ID on all related assets) 60 If this asset represents entire basis of replacement property. enter excess basis . . . . 61 If this asset represents exchanged basis of replacement property, enter: a Date placed in service of relinquished property b Date of disposition of relinquished property c MACRS convention for relinquished property d Depreciation claimed on relinquished property in year of disposition e AMT depreciation claimed on relinquished property in year of disposition State Depreciation 62 OuickZoom to select or delete states ► 63 a State (CA info must be entered in CA state return, do not enter here) b Asset status . c State cost or basis d State Section 179 deduction e State Section 179 deduction allowed (enter for dispositions only) f State Special Depreciation Allowance g State asset class h State depreciation method I State MACRS convention J State recovery period k State depreciable basis I State prior depreciation m State depreciation deduction ► n If this asset represents entire basis of replacement property. enter excess basis o If exchanged basis, enter depr on relinquished property in year of disposition p State gain/loss basis, if different from state cost q Include asset in state return LiVes Li No Arizona and Wisconsin Depreciation Information for Assets in Service Prior to 1/1/2014 a Wisconsin Section 179 deduction taken on prior year tax returns b Wisconsin prior depreciation taken on prior year tax returns c Arizona prior depreciation for assets placed in service in 2013. where 10% Special Depreciation Allowance was taken in 2014 EFTA01220831