ZentrifyTax
Level 1
02-25-2024
01:05 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Any input is greatly appreciated about how this functionality works.
TaxGuyBill
Level 15
02-25-2024
01:09 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I don't know the answer (I use ProSeries, not Proconnect Online), but have you tried typing in a large number and checking what shows up on Schedule C?
For example, if you enter $10,000, does Schedule C show $10,000 or does it show $5000 plus some amortization?
ZentrifyTax
Level 1
02-26-2024
08:16 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thanks for this. I can see how to input it now.
Carmine
Level 1
02-26-2024
02:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You should run it through the depreciation area, under amortization under code section 195 which says start up costs or just use the override on the schedule C input that you showed in your question.