Depreciation schedules
UltraTax has no direct asset import. Here's the route that works.
A common assumption is that UltraTax CS imports assets from a spreadsheet the way Drake and Lacerte do. It doesn't — not for 1040, 1120 or 1065. Direct spreadsheet import exists only in the 706 module. The working path goes through Fixed Assets CS.
The actual path
In Fixed Assets CS: Utilities → Import → spreadsheet, mapping your columns to its fields. Treatments (Tax, Book, AMT, State) each carry their own prior depreciation. There is no importable bonus field, so Fixed Assets CS computes it — worth knowing before you go looking for the column.
Fixed Assets CS reports as a source
The reverse is also true and more common than you'd think: at larger firms the assets live in Fixed Assets CS and the return only receives totals. When a new client's documents include an asset detail report rather than a tax-software schedule, that report is a supported input.
Where we are on UltraTax as a destination
Drake, Lacerte and ProConnect are supported today. UltraTax via the Fixed Assets CS template is next. If that's your suite, convert to the Fixed Assets CS layout by hand from our output for now — or tell us, because demand is how we order the queue.
Questions
- Can I still use this if I'm on UltraTax?
- Yes as a source — printed UltraTax schedules convert into any supported destination, which covers the switching case. As a destination it's on the roadmap.
- Does state depreciation carry through?
- Fixed Assets CS holds prior depreciation per treatment including state, so the data survives the route. What each destination's import will accept is a separate question, and we name the gaps.