Lesson 6: Additions and Disposals
GA-TaxPro provides two ways to enter additions and disposals of property:
Method 1: Simple Method
Enter only the additions and disposals that occurred during the current year.
These entries will be reflected in the Additions and Disposals column on Schedule A.
The Total Cost column (the first column) will stay unchanged. You can manually adjust the Total Cost on the Schedule A tab if needed.
Suitable for: Clients without a full, detailed property list or when you do not want to maintain a complete property list.
Pros: Quick and easy for simple additions and disposals.
Cons: You will not have a complete detailed property list on file for your client.
Method 2: Advanced Method
Maintain a complete property list for your client by entering all properties along with their additions and disposals for the year.
The entire Schedule A (Total Cost, Additions, and Disposals columns) will be automatically rebuilt based on this complete property list.
Avoid making manual changes on the Schedule A tab, as it will be overwritten each time the data is refreshed.
Suitable for: Clients where you have full property details and want to track everything comprehensively.
Pros: Keeps a complete, detailed property list on file for your client.
Cons: Requires entering the full property list when setting up a new client. Note: This is a one-time effort since the property list will be reused in future years.