Is Lacerte calculating 199A UBIA correctly?
Lacerte is including basis for assets that have ended their depreciable period before the end of the taxable year for purposes of 199A. I have called customer support twice over the last month to have development look at it, but it doesn't seem to be getting escalated. Perhaps my interpretation of the code is wrong, please advise or fix.
Example: Five year asset PIS 6/30/2008. The depreciable period for UBIA is defined as the later of 1) last year of full depreciation - 12/31/2012, or 2) 10 years after PIS - 6/30/2018. The code states the depreciable period can not end by the end of the taxable year. That makes 2017 the last year for this asset to be included in UBIA. Lacerte is including the 2008 asset in 2018's UBIA when 2017 should have been the last year for the asset.
