Hi,

I picked up a new client that I need to prepare an 1120S for. They have book depreciation that their old EA would prepare and give a schedule & journal entry for their bookkeeper to record.  Old firm uses Lacerte, which I know has the book depreciation input so it can be calculated.

I us PS Basic for 99.9% of my clients, as I prepare mostly individual returns. I do not believe PS Basic has anywhere to input book depreciation, but as I sit in my Dr.'s waiting room, I started to wonder if in fact I have missed something in the PS Professional software - does it have the ability to compute book depreciation for the taxpayer - I looked (briefly), but did not see it.

I figured that if PS Pro does NOT have that ability, I will just create a dummy client and enter all the assets and set them up to calculate using the GAAP depreciation methods.

Am I missing an easier way (and yes, shame on me if I missed that there is the ability to calculate book depreciation) in PS Pro.