Property Types (tffam7180m000)

Use this session to add, edit, or delete. You can select for each asset book. This is used for informative purposes only, unless the book is the vintage/group account book and the asset belongs to a vintage/group account. if so, the property type code is required. It must be real or personal and it must match the property type code of the vintage/group account to which the asset belongs.

The property code is defined by a property type and a property subtype.

The following property types are available:

  • Real A real property is an immovable property.
  • Personal A personal property is a movable property.
  • Amortized Generally, amortization is the depreciation of an intangible property, as for instance, goodwill.
  • Other

The following property subtypes are available:

For real property:

  • Listed
  • Conservation
  • Energy
  • Farms
  • Housing

For personal property:

  • General

For amortize:

  • Section 179: Assets
  • Section 169: Assets
  • Section 171: Bond premiums
  • Section 178: Lease acquisitions
  • Section 174: R&D
  • Section 195: Business startup
  • Section 248: Corp. org costs
  • Section 709: Partnership org costs

For public:

  • Public utility

For other:

  • N/A

 

Prop. Type
Code that identifies the Property Type.
Description
The description or name of the code.
Property Type
Property type.

The following property types are available:

  • Real A real property is an immovable property.
  • Personal A personal property is a movable property.
  • Amortize Amortization is the depreciation of an intangible property as for instance goodwill.
  • Others
Property Subtype
Displays the property subtype. The property subtype allows you to further classify property types.

The following Property Subtypes are available:

For real property:
  • Listed
  • Conservation
  • Energy
  • Farms
  • Housing
For personal property;
  • General
For amortize:
  • Section 179 assets
  • Section 169 assets
  • Section 171: bond premiums
  • Section 178: lease acquisitions
  • Section 174: R&D
  • Section 195: Business startup
  • Section 248: Corp. org costs
  • Section 709: Parnership org costs
For public:
  • Public utility
For others:
  • N/A

The property subtypes are used for tax reports.