Disposal Report: Report Columns

These standard columns appear in Part One of the Disposal report and need no explanation:

System Number

Extension

Company Asset Number

Description

Class (Cl)

[Placed] In-Service Date

Disposal Date

Acquired Value

The following guidelines provide detail on the nonstandard columns that appear in Part One of the Disposal report.

Disposal Method (DM)

The following table displays the available Disposal Method codes:

Code	Disposal Method
S	Sale
A	Abandonment
E	Taxable Exchange
C	Casualty
L	Like-Kind Exchange: Pre-1/3/2000
K	Like-Kind Exchange: Post-1/2/2000
I	Involuntary Conversion: Pre-1/3/2000
V	Involuntary Conversion: Post-1/2/2000
R	Other

 

Column	Notes
Current Accumulated Depreciation	This column shows the current accumulated depreciation calculated by the system, as displayed in Asset Detail view. Because you have disposed of the asset, this is the final total depreciation taken on the asset. Current Accumulated Depreciation includes the 168 Allowance and Section 179 expense, when applicable to the depreciation method, only if you have selected Yes in the Include Section 168 Allowance and Section 179 in Expense field on the Edit Company screen. This means that the amounts will flow through to the Gain or Loss Adjusted Basis and Realized Gain or Loss columns. However, if you have selected No, the system does not include the 168 Allowance and Section 179 expense in Current Accumulated Depreciation but still reduces the amount in the Gain or Loss Adjusted Basis column by the 168 Allowance and Section 179 expense. The Calculation Assumptions section on the last page of the report indicates whether you selected Yes or No in the Edit Company screen.
Net Proceeds	The system calculates the net proceeds as cash proceeds plus non-cash proceeds, minus the expenses of the sale, as entered when you disposed of the asset.
Gain or Loss Adjusted Basis	This column shows the adjusted basis used for calculating the asset's realized gain or loss.
Realized Gain or Loss	This column shows the amount the system calculated as the asset's realized gain or loss, or the amount you entered to override the calculated amount when disposing of the asset.
Gain or Loss Recognition (GL)	See below.
Recognition Totals	The three columns (Gains, Losses, and Net) list the amounts that were recognized, not recognized, or deferred for the disposed assets included in the report. The Net column shows the totals for gains net of losses.

Gain or Loss Recognition (GL)

This column shows the gain or loss recognition code you entered or accepted when you disposed of the asset. This chart explains those codes:

Y	The gain or loss was recognized.
N	The gain or loss was not recognized.
D	The gain or loss was deferred.