video1.0<iframe src="https://www.loom.com/embed/52ad6edf19404d8daae04b6e26a33646" frameborder="0" width="1324" height="993" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>9931324Loomhttps://www.loom.com9931324https://cdn.loom.com/sessions/thumbnails/52ad6edf19404d8daae04b6e26a33646-00001.gif507Step 5 of inputting a tax return is to look at the Fixed Assets on the balance sheet. If the amount has changed from the prior year, then we need to deal with it: If the current year is higher than last year, then the client added some assets. So we need to go into their QuickBooks and see the detail inside their “Fixed Asset” account. For small stuff that should be expensed, expense it to office supplies. For big stuff that should be depreciated, add the new asset into UltraTax on the “asset” tab. This is the video for how to do that. If the current year is lower than last year, then they sold/disposed of some asset. That is a different video. The client may have done some of both (buying and disposing), so you may need to look at the prior year and compare it to the current year to see which things they got rid of and which things were added.