The basis and depreciation for the home is not flowing through to Form 8829. Here are the details:2020 Lacerte (just updated today - didn't solve the issue)1 Schedule C1 HomeScreen 22:Land portion: Form 10, Activity 1, Category 6 - Land, Method 99 --> flows to Form 8829. Building portion: Form 10, Activity 1, Category 4 - Buildings, Method 87 --> does not flow to Form 8829Screen 29:Home 1Linked to Schedule CElect to use simplified method - NOT checkedDepreciation section - no entriesAllocation section - no entriesDid I input any of that wrong? What am I missing?

C

cih623

Level 2

Question

Form 8829 Not Picking Up Building Basis and Depreciation

Forum|Forum|5 years ago
August 28, 2021
4 replies
16 views

The basis and depreciation for the home is not flowing through to Form 8829. Here are the details:

2020 Lacerte (just updated today - didn't solve the issue)
1 Schedule C
1 Home

Screen 22:

Land portion: Form 10, Activity 1, Category 6 - Land, Method 99 --> flows to Form 8829.
Building portion: Form 10, Activity 1, Category 4 - Buildings, Method 87 --> does not flow to Form 8829

Screen 29:

Home 1
Linked to Schedule C
Elect to use simplified method - NOT checked
Depreciation section - no entries
Allocation section - no entries

Did I input any of that wrong? What am I missing?

Lacerte Tax

This topic has been closed for replies.

George4Tacks

Level 15

FYI - Screen 22 Category really only serves a purpose if you are trying to match up to financial statements. It has no real function in the tax program.

Screen 29 - Did you enter the business use area and the total area of home? Did you indicate the activity number (probably 1= the Sch C business name)

If you restore from C:\Lacerte\20Tax\demodata and select Sample07 it is a demo return for Office in Home. Any client with ssn or ein of all 9's can be "played with" with no REP fee, but you do may need to do the REP.

Answers are easy. Questions are hard!

C

cih623Author

Level 2

I had everything entered properly for square footage detail and schedule C link. I even compared to the demo data you suggested.

It appears to be some sort of software glitch in the asset listing. The first line item in the detail is only populating Form 8829 if Method 99 is input. If the Method is blank, it also will not populate Form 8829.

I switched the order of my line items, and now Form 8829 and depreciation are correct.

C

cih623Author

Level 2

Correction...it was the prior depreciation entry that was messing it up.

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