AMT 200DB change to 150DB on property elected out of bonus

[gjacpa]

Why is Lacerte calculating an AMT adjustment on property elected out of bonus contrary to the 6251 Instructions?

 

 

What Depreciation Isn’t Refigured for the AMT?

Don’t refigure depreciation for the AMT for the following. Qualified property that is or was eligible for a special depreciation allowance if the depreciable basis of the property is the same for the AMT and the regular tax. This applies to any special depreciation allowance, including those for disaster assistance property, reuse and recycling property, cellulosic biofuel plant property, second generation biofuel plant property, New York Liberty Zone property, Gulf Opportunity Zone property, and Kansas disaster area recovery assistance property. The special allowance is deductible for the AMT, and no adjustment is required for any depreciation figured on the remaining basis of the qualified property because the depreciable basis of the property is the same for the AMT and the regular tax. If you elected not to have any special depreciation allowance apply, the property may be subject to an AMT adjustment for depreciation if it was placed in service before 2016. It isn’t subject to an AMT adjustment for depreciation if it was placed in service after 2015.

[aeh-cpa]

I just spoke with Lacerte support.  There is a check box (Elected out of the SDA for this property) in the General section of the asset information on the depreciation screen that you need to check.  Apparently you need to check this box for each asset.