When a Rental is not rented for a year and you do not depreciate for a year in Lacerte do you have to manually have to go into every item and input prior depreciation in order for it to pick up previous years deprecation. I had one that had been depreciated for 7 years stopped for 1 year and the
year that it was restarted it looked like you would have to reenter the accumulated depreciation because it was starting from square one as far as the depreciation
thanks
Michele
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First, take a step back.
Why was it not depreciated for a year? Was it converted to personal use?
Was it (a) exactly 1 year, (b) slightly less than 1 year, or (c) more than 1 year?
The rental was not rented for a year. They took a break from renting then decided to rent it the following year. So it sat vacant for a year
On Screen 22. Depreciation - You will enter a -1 as the override for "current depreciation/amortization" in the asset information window for each asset you want to suspend depreciation for.
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