Where do you input Section 179 depreciation deduction for exempt organization?

AWP08 · ‎04-20-2021

sjrcpa · ‎04-20-2021

Depreciation expense.

The more I know, the more I don't know.

qbteachmt · ‎04-20-2021

Did you see your Help articles:

https://proconnect.intuit.com/community/nonprofit-corporation/help/common-questions-for-exempt-organ...

https://proconnect.intuit.com/community/federal-taxes/help/generating-form-4562-for-depreciation/00/...

https://proconnect.intuit.com/community/individual/help/federal-form-4562-not-generating/00/115169

*******************************
Don't yell at us; we're volunteers

TylorValdez1 · ‎04-20-2021

You can setup assets that take 179 on screen 39.

sjrcpa · ‎04-20-2021

And I wouldn't for nonprofit. They don't need quick tax deductions since they don't pay tax.

The more I know, the more I don't know.

qbteachmt · ‎04-20-2021

That's exactly why I posted the First Link First. It tells you:

"Why am I not getting a 4562 nor special depreciation with my 990/990PF return? I have entered depreciation on Screen 39.

Form 4562 is not required for Forms 990/990PF since the depreciation is a book deduction and not a tax deduction."

*******************************
Don't yell at us; we're volunteers

Where do you input Section 179 depreciation deduction for exempt organization?

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.