Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Entering Asset into Lacerte Not Placed in Service Until The Following Year
Entering Asset into Lacerte Not Placed in Service Until The Following Year
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
CPA4Life
Level 2
02-19-2021
10:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
So I have an client who has a well installed but it was not placed in service or running until 2021. Is there an option on Lacerte where I can put the asset in Lacerte and it automatically starts depreciating the following year? I mean I can just date it 1/1/2021 but was wondering if I can date it the day they purchased it but not start depreciating until the following year?
Thank you!
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
Strongsilence-C
Level 9
02-19-2021
11:25 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I think you must choose the No Depreciation method for this year. Then change it next year to the correct depreciation method and actual date in service.
