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.
