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Level 1
December 7, 2019
Solved

Will LaCerte be adding fields to select the Iowa depreciation methods for farm equipment and like kind exchanges for equipment?

  • December 7, 2019
  • 1 reply
  • 7 views

2018 Iowa Depreciation.  Iowa did not couple with the federal regarding Section 1031 for non-real estate property nor did Iowa couple with federal on depreciation methods for farm equipment.

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Best answer by George4Tacks

Lacerte has always had a state (if different) entry for depreciation. I can't speak to how a 1031 would be handled, but my guess is that if IA does not conform, Lacerte would know that. I will ask a moderator.

1 reply

George4Tacks
Level 15
December 7, 2019

Lacerte has always had a state (if different) entry for depreciation. I can't speak to how a 1031 would be handled, but my guess is that if IA does not conform, Lacerte would know that. I will ask a moderator.

Answers are easy. Questions are hard!
IntuitAlicia
Employee
December 7, 2019