Bobby BoSox
Level 2
02-28-2020
12:48 PM
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New Client
11 fully depreciated assets.
Input all 11, $50,111 both basis and acc depr.
On the Balance Sheet, 1120s p4, 10a & 10b, it's blank.
It should say $50,111 in Column A & B.
I can't figure this out.
Help?
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Level 11
02-28-2020
01:40 PM
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You need to enter the beginning assets and accumulated depreciation in the Balance Sheet screen. The ending numbers are calculated as beginning numbers adjusted by current changes, not by comparing to the depreciation input. (I've got some clients where I put listed assets and 179 assets in Lacerte, but maintain the actual depreciation in an outside program, so not everyone keeps the depreciation input detail in such a way that the balance sheet ties to it.)
Bobby BoSox
Level 2
02-28-2020
03:07 PM
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That did it. I assumed the program would compute the previous.
Thank you!