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Bobby BoSox
Level 2
February 28, 2020
Question

Screen 16 Depreciation

  • February 28, 2020
  • 1 reply
  • 9 views

New Client

11 fully depreciated assets.

Input all 11, $50,111 both basis and acc depr.

On the Balance Sheet, 1120s p4, 10a & 10b, it's blank.

It should say $50,111 in Column A & B.

I can't figure this out.

Help?

This topic has been closed for replies.

1 reply

PhoebeRoberts
PhoebeRobertsIntuit Community Champion
Intuit Community Champion
February 28, 2020

You need to enter the beginning assets and accumulated depreciation in the Balance Sheet screen. The ending numbers are calculated as beginning numbers adjusted by current changes, not by comparing to the depreciation input. (I've got some clients where I put listed assets and 179 assets in Lacerte, but maintain the actual depreciation in an outside program, so not everyone keeps the depreciation input detail in such a way that the balance sheet ties to it.)

    B
    Bobby BoSoxAuthor
    Level 2
    February 28, 2020

    That did it. I assumed the program would compute the previous.

    Thank you!

     

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