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Level 6
December 7, 2019
Solved

Election to Not Claim Add'l Depreciation carried from 2017

  • December 7, 2019
  • 1 reply
  • 10 views

I elected not to claim additional/bonus depreciation on an 1120S return for 2017.  I don't want to make the election for 2018 but the election apparently carried over and I can't find a way to remove it.  The election statement is printing out and none of the eligible assets have bonus depreciation calculating.

When I go to the election screen 38 there are no entries in that section.

I can override by entering the amount on Screen 16 where I entered the new asset.  But that doesn't stop the election statement from printing.

It's my understanding this is an annual election, so I'm not sure why I'm stuck.  Anybody else having this problem?

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Best answer by George4Tacks

Just a guess - Is Election 1 still present and bold? If so, click Delete below it. 

1 reply

George4Tacks
Level 15
December 7, 2019

Just a guess - Is Election 1 still present and bold? If so, click Delete below it. 

Answers are easy. Questions are hard!
PamCAuthor
Level 6
December 7, 2019
Unfortunately no. There's nothing bold on either election screen.  But thanks for trying!