New clients old firm used a 150db MO depreciation convention for some assets. I cannot find this convention in Lacerte. Is it available? It is for 15 year property.

Forum|Forum|6 years ago
December 7, 2019
3 replies
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Lacerte Tax

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Best answer by George4Tacks

All methods are shown here https://accountants-community.intuit.com/articles/1857461-depreciation-methods Possibly 66 is what you are searching for.

Alternatively, 93 is 150% DB. You can enter the number instead of searching for the method. The next entry is 15 for the # of years and the next is 2 or MQ.

I am not saying that you should not possibly correct what the prior preparer has done. Maybe

T

TaxGuyBill

Can you clarify what you mean by by the "MO" when you said 150db MO depreciation?

If you tell us what the assets are (such as "land improvements") and what they are used for, that may help somebody to let you know how to enter it.

George4Tacks

Level 15

Probably MQ.

Answers are easy. Questions are hard!

George4TacksAnswer

Level 15

All methods are shown here https://accountants-community.intuit.com/articles/1857461-depreciation-methods Possibly 66 is what you are searching for.

Alternatively, 93 is 150% DB. You can enter the number instead of searching for the method. The next entry is 15 for the # of years and the next is 2 or MQ.

I am not saying that you should not possibly correct what the prior preparer has done. Maybe

Answers are easy. Questions are hard!

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