George4Tacks
Level 15
10-17-2023
09:26 AM
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2021 (Other tax software)
Original Cost Basis $33,379
Prior Sec 179 $8,345
Depr Basis $25,034
Prior Depr $4,846
Method: S/L HY
Life: 5
Rate .2000
Current Depr: $5,007
2022 (ProConnect)
Original Cost Basis $33,379
Prior Sec 179 $8,345
Depr Basis $25,034
Prior Depr $9,853
Method: 200DB HY
Life: 5
Rate .05760
Current Depr: $1,460
I should mention the client is Vermont based which follows Federal for Sec 179 but not for accelerated MACRS.
Why did YOU allow this new software to change the depreciation method from SL to 200DB?
Your whole premise has been THE SOFTWARE DID THIS TO ME! You need to look into yourself to find the problem.
Answers are easy. Questions are hard!