Entering partial year depreciation

[DGEmbry]

A schedule C client went out of business at the end of October 2022. How do I reduce depreciation expense for business use of home to 10 months?

I find on Screen 29 , Depreciation, "Total hours available".  I did the calculation and entered the number of hours "7,296" but it had not effect on the depreciation amount.

Thank you

DEmbry

[TaxGuyBill · Accepted solution]

I'm not sure how Lacerte works, but in ProSeries you enter a disposition DATE (the date it stopped being business use) but NOT a sales price.  That is what stops the depreciation.

[DGEmbry]

Thank you TaxGuyBill!

That is the way to do it!

DEmbry