We have both UltraTax and Fixed Assets CS reports. Which do I send?

The Fixed Assets CS asset detail. It is the richer of the two and it is the one that carries the assets the vendor conversion will leave behind.

The report is 40 pages of a bankruptcy exhibit / a scanned printout. Still fine?

Usually. We read the pages that hold the schedule and ignore the rest, and part-scanned filings are routine — we only refuse when no page in the file can be read at all.

Drake destination

UltraTax to Drake, when the assets live in Fixed Assets CS

This direction has a specific trap, and it is not in the tax program. UltraTax keeps depreciation in Fixed Assets CS, and vendors' own documentation warns that assets held only in a fixed-asset manager do not convert. The client file arrives looking complete, right up until someone sells a rental.

Convert a schedule $49 per schedule · first one free · totals tie or your money back

Print the Tax Asset Detail, not the Form 4562

Fixed Assets CS prints a Tax Asset Detail with a row per asset — that is the source we want. A Form 4562 prints class aggregates, not assets, and there is nothing in it to import. If you have both, send the detail.

One column on that report is worth knowing about

The Tax Asset Detail prints "Sec 179 Exp Current", "Bonus Amt" and "Tax Current Depreciation" as separate columns, and the bonus is already inside the current figure — the report's own End Depr and Net Book Value columns prove it. We transcribe the column as printed rather than adding the components back on top, which is the sort of arithmetic that silently doubles a deduction. Your totals tie because they are the document's totals.

Then it is a Drake spreadsheet

Drake's 4562 import takes 104 positional columns with dates as MMDDYYYY text. UltraTax and Fixed Assets CS print per-treatment figures, and Drake has somewhere to put all of them, so this pairing loses less than most.

Questions

We have both UltraTax and Fixed Assets CS reports. Which do I send?: The Fixed Assets CS asset detail. It is the richer of the two and it is the one that carries the assets the vendor conversion will leave behind.
The report is 40 pages of a bankruptcy exhibit / a scanned printout. Still fine?: Usually. We read the pages that hold the schedule and ignore the rest, and part-scanned filings are routine — we only refuse when no page in the file can be read at all.