HOW DO YOU ENTER THE DEPRECIATION BASIS OF A BUILDING WITH NON DEPRECIABLE COST OF LAND

Baxter13 · ‎03-27-2023

Hello, I need to enter depreciable asset, a building that has cost of land which is not depreciable. How can I enter the cost of building and the cost of land for the depreciation expense and at the same time keep the record of actual cost for going forward

PhoebeRoberts · ‎03-27-2023

Personally, I set the building and land up as two separate assets.

Baxter13 · ‎03-27-2023

Thanks for the reply. Can I see the depreciation worksheet in proconnect? I am first time user after using proseries for long time.

PhoebeRoberts · ‎03-27-2023

It'll be in the forms when you view the return.

I'm a Lacerte user, and ProConnect is close enough to Lacerte that I can guess how it'll work more or less. ProSeries to ProConnect is a steep learning curve!

Baxter13 · ‎03-27-2023

YOU ARE ABSOLUTELY RIGHT ABOUT TAHT.

THANKYOU

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