alpha b
Level 1
‎09-13-2021 01:21 PM

I have entered new assets for a rental property on the deprecation schedule however the accumulated deprecation is not showing on the balance sheet unless I force it in.  How do I get this to show on the balance sheet without forcing it? 

 

This is a S Crop return and section 179 is not allowed because the business has a loss. 

0 Cheers
TaxGuyBill
Level 15
‎09-13-2021 01:59 PM

What software are you using?

0 Cheers
qbteachmt
Level 15
‎09-13-2021 02:27 PM

Don't you just love it when an S Corp is used to own real property?

Which tax year are you preparing and what did you use for Date In Service?

*******************************
Don't yell at us; we're volunteers
alpha b
Level 1
‎09-13-2021 02:33 PM

I am preparing 2020 taxes and used 09/02/20 as the date entered.

0 Cheers
alpha b
Level 1
‎09-13-2021 02:34 PM

I am using Lacerte

0 Cheers
qbteachmt
Level 15
‎09-13-2021 03:12 PM

This Help article includes a video:

https://proconnect.intuit.com/community/federal-taxes/help/entering-a-depreciable-asset-in-lacerte/0...

 

*******************************
Don't yell at us; we're volunteers
0 Cheers