sappy021
Level 2
01-16-2024
07:33 AM
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Hello @George4Tacks
I provided the answers below.
Did 2021 use Bonus? Or did they elect OUT of Bonus? It appears they used S/L. How would I know if they elected OUT of Bonus? If they used S/L, does it mean they automatically elected OUT of Bonus? Or should they have filed an election statement? If they did not file, should the client stick with S/L or move to 200DB?
What are you entering for the Basis? original basis is $33,379, however, MACRS depr basis is $25,034.
I would think the depreciation method can be changed to whatever we need it to be. I am skilling up and fact finding - no premise that the software did it to anyone.