CCH Axcess Tax

Date Sold

Enter the month and day the asset was sold. The year is assumed to be the current tax year. This entry is mandatory for the "Automatic Sale" feature to work correctly. Current year depreciation is computed up to the date of sale on pre-ACRS, ACRS real, and MACRS property. The asset is not printed on next year's depreciation reports nor will it be Pro Formaed. Each asset sold is identified on the depreciation and amortization detail report with a "D" (Asset Disposed).

If the asset is a leased vehicle and this is the final year of the lease, enter the month and day the lease expired. When an entry is present, the inclusion amount is calculated using the prior year inclusion table (1040 Only).

Note: A "Date Sold" entry is mandatory to correctly compute current year depreciation amounts when an asset is sold and to remove the asset from the next year Pro Forma.