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25011

25011

The following diagnostic is generating:

Depreciation asset #{PrefixNum}: Invalid method for section 179 expense.

Solution:

If entering a nonresidential property using method 87 ""39 year non-residential real property"" and it qualifies for 179 -- check off the box under the Federal Depreciation>General that says Qualified improvement property nonresidential for section 179. (partnership) Qualified improvement property 39 year nonresidential for section 179. It will remove the diagnostic for the invalid method.

*UPDATE* 5/5/20 - This diagnostic is now looking for Method 66 to clear. CARES Act Impact Technical Correction –the CARES act retroactively explicitly stating QIP is to be depreciated over a 15 year life AND is eligible for bonus depreciation If you see this on a partnership take a look at Screen 14 code Code 1110 The checkbox is ""Qualified improvement property"" and can be found in the ""Additional Information"" section of Screen 14.

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