2006551
The following diagnostic is generating:
Depreciation asset #XX: This asset was partially disposed. The depreciation schedules reflect the entire amount of basis and prior depreciation for the Depreciation for Remaining Asset line so the Depreciation for Assets Sold amounts are correct. The proper portion of basis and depreciation is reflected on the Form 4797 and if applicable, the Balance Sheet. (ref. #2006551)
Solution:
Generates when Screen 22 Depr>Sale of Asset (4797/6252)>Percentage (.xx) or amount of basis sold (code 515) is being used When only a portion of the basis is included in the disposition, the remaining amount will continue to be depreciated in future years until the full amount is disposed of. You can verify this by going to the Forms tab, and viewing next year's depreciation schedule. The asset will be displayed as ""[Asset Description] Remaining Basis"" with the remaining amount of basis listed in the 'Cost/Basis' column. When entering a percentage, only that percentage of the basis will be included in the current year disposition, while the remaining amount will continue to be depreciated in the future. When entering a dollar amount, only that amount of basis will be included in the current year disposition, while the remaining amount will continue to be depreciated in the future. Do not enter a '1' in this field. The program will not treat it as 100% and will not reduce the basis by one dollar. The amount must be entered as a percentage or a dollar amount greater than 1. F1 help for this input field provides a detailed example. If this should not be entered as a partial sale: Screen 22 Depr>select asset number from diagnostic>Sale of Asset (4797/6252)>delete amount from Percentage (.xx) or amount of basis sold (code 515) Do not enter a '1'. This field should remain blank if 100% of the basis should be included in the sale. If the amount is incorrect: Screen 22 Depr>select asset number from diagnostic>Sale of Asset (4797/6252)>Percentage (.xx) or amount of basis sold (code 515) adjust amount If the amount has been adjusted, the partial sale information will display on Form 4797 while the remaining amount will appear on the depreciation schedule for the future year.
