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- On Individual screen 22 what's the difference between two methods of removing depreciation expense?
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On Individual screen 22 what's the difference between two methods of removing depreciation expense?
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On Individual screen 22 what's the difference between two methods of removing depreciation expense?
On Individual screen 22 what's the difference between two methods of removing depreciation expense?
Submitted by Ivy GSG on 10-09-2023 12:05 PMHi community,
Client needs to convert a single-family rental property to primary residence for the year of 2022. The property was rented out in previous years so I need to delete depreciations for 2022. Client might want to re-rent the property in future years so we want to keep property information in Lacerte instead of deleting it completely.
I found two methods to achieve this goal:
- On Individual screen 22 put -1 in Current depreciation/amortization to override prior year date
- Put 1= delete this year in Additional Information
So I wonder what's the difference between these two methods? Thank you very much!
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