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- Commercial Real Estate Rental - New Roof - Section 179 and Depr Method
Commercial Real Estate Rental - New Roof - Section 179 and Depr Method
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jhandico
Level 1
06-23-2020
11:59 PM
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I have a client with that owns a commercial real estate property. The client has a variety of commercial tenants that pay rent.
The client replaced the roof on one of the buildings in 2019. Is there a special way to enter it in Lacerte if I want to take Section 179 for the entire amount of the roof? On Screen 22 (Depreciation, 4562) if I enter the amount in "Current Section 179" and enter the Method as "87" for 39 year Non-Residential Property, Lacerte returns a critical diagnostic warning that my method isn't eligible for the Section 179 deduction.
Should I be entering these details in another manner or on another screen?
Thanks for any assistance you can provide.
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1 Comment 1
TaxGuyBill
Level 15
06-24-2020
12:25 PM
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ProSeries has a different entry for roofs than other 39 year property. Maybe you need to enter a different Method than "87" for Lacerte???
