How do you make bulk dispositions work in ATX program?

[David]

I have never been able to get the bulk disposition feature to work in ATX and the directions don't seem to help.

When I set up a rental property, I will have several categories set up in Asset Entry - home, land and improvements. When the client sells the property, it would be nice to have a quick feature that will combine these categories so the sale price will be automatically allocated and the gain or loss for each category is calculated properly.

I always have to manually allocate the sales price in order to calculate the gain/loss for each category.

I'm sure that what I am attempting to do is supposed to be the purpose of the bulk dispositions feature, however, it never works for me.

Can someone tell me how you are able to get the bulk disposition to work?

Thanks.

[NECPA in NEBRASKA]

David, I just went through a couple of these. I don't believe that it will handle the sale for different types of property just through the bulk sale tab. I had to allocate the purchase price to each type of asset (land, depreciable, etc), because they are taxed differently. Maybe someone smarter than me knows another way to handle it. It does work well if you put all of the furniture as one bulk sale, etc.

Bonnie

[kcjenkins]

How could any program automatically allocate the price between assets? That is the sort of decision that the tax professional is hired to determine. Bulk disposition is used to speed up the entry when you bought a property and set up multiple assets, such as equipment, then sold a group of them at one time. But you still have to determine the category, and allocate the sales price between categories.