one sale, 4 assets

Forum|Forum|4 months ago
February 20, 2026
1 reply
5 views

I'm new to Proseries. My first return has the sale of a rent house which i have broken out into 4 separate assets: land, Building, 7 year prop., 15 year prop. and it was all sold together - how do i do that? Thank you

ProSeries Professional

dascpa

Level 11

Whether it's ProSeries or any other tax software the "theory" is the same. You have to appotion the sales price and the cost of sale to each of the four assets. Look at the 7 and 15 year property first and see if there really is value to them (a 20 year old washing machine probably doesn't have a gain on sale....). Then in the sale section of each asset report the sales price allocated and the cost of sale allocated and obviously the date of sale. The software will handle the rest. Be careful of any state decoupling if state depreciation does not equal Federal depreciation.

S

sballcpaAuthor

Level 3

Thank you for your reply, so there is no "mass disposition" option? Dang. Yes, I'll probably make the 7 year prop and 15 year prop come to zero gain/loss and maybe I'll put the land with the building. That's disappointing

dascpa

Level 11

There is "mass disposition" in Intuit's Fixed Asset Manager. Works really well and imports into ProSeries, but not within ProSeries itself. For 4 assets not a big deal. I end up doing an Excel worksheet so I have documentation of my apportionment method.

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