DGEmbry
Level 3
02-23-2023
03:43 PM
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A schedule C client went out of business at the end of October 2022. How do I reduce depreciation expense for business use of home to 10 months?
I find on Screen 29 , Depreciation, "Total hours available". I did the calculation and entered the number of hours "7,296" but it had not effect on the depreciation amount.
Thank you
DEmbry
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TaxGuyBill
Level 15
02-23-2023
04:45 PM
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I'm not sure how Lacerte works, but in ProSeries you enter a disposition DATE (the date it stopped being business use) but NOT a sales price. That is what stops the depreciation.
