Required; found on the Inception tab. In some cases, it may not be possible to determine a fair value for an asset. FAS 13, ¶28, particularly envisions a lease of a part of a building (such as a suite of offices, a floor, or a store space in a mall). In such a case, check this box and leave the Fair Value fields blank. If this box is not checked and nothing is filled into either of the Fair Value fields for a system-classified lease, you will get an error. If this is checked, the classification test (7(d) test in FAS 13) for the present value of the rents is skipped.
See also
Fair Value of Building/Equipment | Fair Value of Land | Fair value of the leased property