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Marie

IRC Section on fixed assets input

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What is that for?  i have some IRC263 (a) assets I'd like to keep track of, is this where I put them, select 263 (shows up in red)

Or do you just keep a list for yourself, and put the IRC263 asset writeoffs on the Sch F, other deductions?

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Has no one ever seen that?  What is it for?  Also  how does everyone else keep track of those IRS263 purchases.

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2 hours ago, Marie said:

Has no one ever seen that?  What is it for?  Also  how does everyone else keep track of those IRS263 purchases.

That field would be to enter the code section under which the asset is being amortized. Example - sec 197 for amortization of goodwill, sec 248 for organizational costs, etc.

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