WARNING Lacerte calculation of depreciation in last year of depreciation under MACRS 27.5 year property is WRONG. Has anyone else reported it?

[maw10401]

Lacerte is not using the month placed in service to calculate depreciation in the last month.  Lacerte is calculating a full year of depreciation in the 28th year.  If placed in service in July - December, there should actually be some depreciation in tax year 29.  But it will not calculate that.

[George4Tacks · Accepted solution]

I assume you used method 85. What date was your item placed in service? What date did it sell? Did you indicate MM or HY? 

Give the info below and I will check OR if you are sure Lacerte is wrong, you report it to them directly using Ctrl + L to open a ticket. Attach the return and indicate what is wrong and they can analyze your data. 

[maw10401]

Lacerte Support already confirmed that they calculate this incorrectly.   I have all the input correct.  I submitted an enhancement form under help feedback.

[John8290]

Has this ever been fixed?

I don't think so, because I'm running into the same problem this year.

[sjrcpa]

Just override to the correct number and move on.