| 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
Fields | Description
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.