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The Form 4562 within ProConnect, does it automatically figure the depreciation, or do I need to enter the data somewhere else? If yes, where do I enter? So far all I see is a question for prior year depreciation. So confused
2) I read that there is an automatic Asset Management system within ProConnect. If so where do I access that system/app?
3) (Added) Where do I enter carryover 179 expenses, and how do I enter 179 expenses. Does it transfer over from form 4562 somehow?
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1 It will do automatically, once you get it set up https://accountants-community.intuit.com/articles/1606400-how-do-i-generate-form-4562-for-depreciati...
2. ProConnect Tax online is NOT ProSeries and does not have an Asset Management system.
3. Depends on the type of return you are doing. In the client screen, near the top of the left column for input there is a search box. Use that for "179" and you should find the carryover for the specific form in question.
Answers are easy. Questions are hard!
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I HAVE TRIED THESE INSTRUCTIONS AND CAN'T GET FOR 4562 TO POPULATE. MY ASSET IS OVERRIDDEN ON SCHEDULE C, BECAUSE THAT WAS THE ONLY WAY I COULD GET IT ON SCHEDULE C. BUT 4562 IS A MYSTERY TO ME. NO MATTER WHAT I DO IN PROCONNECT IT WON'T GENERATE THAT FORM.
