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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Solved - 2018 Amend for QIP Bonus Depreciation
Solved - 2018 Amend for QIP Bonus Depreciation
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pat
Level 5
06-09-2020
11:58 AM
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I resolved this with a call to Lacerte.
I need the steps to follow once I amend the 2018 return to take advantage of Bonus Depreciation for QIP that is now available. The original 2018 had Sch 179 depreciation that was carried forward from 2017 that will now be carried forward to 2019 after the Bonus Depreciation is applied in the amended return.
I will copy the original 2018 return and amend the copy.
Do I then proforma the amended 2018 to 2019 and prepare the 2019 from that copy? Should I change the client ID back to the original ID?
Am I missing anything?
TIA
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1 Comment 1
George4Tacks
Level 15
06-10-2020
05:09 PM
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If you have not done any input in the 2019, then definitely do a new proforma from the amended 2018 to 2019.
You asked about Client ID, I think that is client number. I would proforma whatever number you are using, then change it back to the original in the 2019 program. Keep both client numbers in 2018 and use "lock" on both.
Answers are easy. Questions are hard!
