2025011 Depreciation Asset #: Invalid method for 179 expense
Roof replaced on a commercial building. I believe this qualifies for 179 expense, with a depreciation method of 87. When this combination is input to Lacerte, the above diagnostic appears as Critical Diagnostic Warning.
Questions:
1. Are commercial roofs not eligible for 179 expense?
2. Is the proper depreciation method not 87?
Appreciate any help.
Solution: Use method 67 (15-year SL Improvements) for a roof. This will allow you section 179 expense for the property and the diagnostic should be resolved.
