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990 depreciation fiscal year end

LSTAX
Level 4

I am working on a 2019 990 with fiscal year end of 6/30/2020.  They bought a car in February 2020 which falls in the fiscal year.  Lacerte is not calculating depreciation most likely since the program is for tax year 2019.  Shouldn't part IX Statement of Functional Expenses include depreciation for the fiscal year including the months from Feb - June 2020?

Thank you

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Accepted Solutions
George4Tacks
Level 15

I just tried this and I got depreciation. 

Screen 1 > Year End = 6?

car purchased 02/06/2020 or something like that, method 55 or something like that? 

 


Answers are easy. Questions are hard!

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3 Comments 3
LSTAX
Level 4

I couldn't cancel this.  Lacerte does look to the fiscal year and does calculate.  I had an override.

Thanks

George4Tacks
Level 15

I just tried this and I got depreciation. 

Screen 1 > Year End = 6?

car purchased 02/06/2020 or something like that, method 55 or something like that? 

 


Answers are easy. Questions are hard!
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LSTAX
Level 4

That's right, it does work.  Thank you