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I need some assistance with depreciation. Sold assets in 2016 and now have a debit balance in Accumulated Depreciation. The bank is freaking out.

delucl
Level 1
 
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abctax55
Level 15

Did you process the sale thru the depreciation screen(the # depends on type of entity), or thru screen 17?

"*******Tax software is no substitute for a professional tax preparer*******
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George4Tacks
Level 15
What do you mean by now? Was the balance sheet correct on the 2016 return?

Answers are easy. Questions are hard!
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abctax55
Level 15

Did you process the sale thru the depreciation screen(the # depends on type of entity), or thru screen 17?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
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