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I saw a question from 4 weeks ago regarding entering reforestation amortization but no answer was provided to the question and the discussion was locked. Another individual as well as I am also interested in how to enter this in ProSeries via the asset worksheet. I know how to do it manually but I would like to utilize the features of the program to do it since I pay so much for it.
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When you add the asset you choose type of asset L, then go down on the worksheet, and enter The IRC section for your asset. As an example if you put section 197 (15 year) Proseries does the rest. I believe Reforestation is section 194
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Thank you for your reply. I couldn't understand why the original discussion was "locked" and couldn't **bleep** the amounts from my manual calculations. Oh well, thanks again for replying.
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My post should have read: Thank you for your reply. I couldn't understand why the original discussion was "locked" and couldn't **bleep** the amounts from my manual calculations. Oh well, thanks again for replying.
I don't know where the bleep in earlier post came from.
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I don't know why what I'm typing is being bleeped. No cursing involved. What I was trying to say was my manual calculations don't equal reforestation amortization if I enter it the way you explained.
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I have only used section 197, and it works fine. I tried using section 194, and it wouldn't work for me. Guess you will have to use "other", and manually enter everything. Sorry