CCH Axcess Tax

Using the Sale Number Box

The "Automatic Sale" feature carries date placed in service, date sold, asset cost, total depreciation, excess depreciation from December 31, 1969 through December 31, 1975, and excess depreciation after December 31, 1975, to a corresponding entry made on the Gains and Losses worksheet for Schedule D or Form 4797, 4684, 8824 and 6252 for each asset sold. Please refer to the "Sale/Exchange of Assets" instruction guide section for additional information.

Enter any number, up to four digits, in the "Sale Number" field and also a "Date Sold" entry on in this section for each asset sold. Enter the identical sale number on the Gains and Losses worksheet > Capital Gains and Loss section to tie the information together. Do not make entries in this field unless the "Automatic Sale" feature is being used.

Make the following entries in this section to compute depreciation correctly:

Date Placed In Service
Date Sold
Cost
Method
Life/Rate
Accumulated Depreciation

Caution: Accumulated depreciation must be computed in strict accordance with the depreciation method entered. If not, the computations may be incorrect. Also, incorrectly computed amounts may result if the business use percentage varied during the life of the asset and the Business Use Accumulated information has not been completed.

Notes:

Bulk Sales - More than one asset in this section can be included in a single sale if all assets have the same holding period and property classification. Simply enter the same "Sale Number" in this section for each asset as entered on the Gains and Losses worksheet.
To use the "Automatic Sale" feature, an entry of "999999" in the "Date Placed in Service" field or negative entries in the "Cost," "Accumulated Depreciation" and "Current Depreciation" fields are not valid entries.