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Level 3
October 6, 2021
Solved

Depreciation split between multiple activities

With a home office deduction and Schedule E room rental income in one home, how is the property's depreciation split between these activities in ProConnect? 

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sjrcpa
sjrcpaAnswer
Level 15
October 7, 2021

ProConnect is based on Lacerte.

My recommendation:

Set up the asset twice-once for home office and once for Sch E

The more I know the more I don’t know.

4 replies

George4Tacks
Level 15
October 7, 2021
cpgAuthor
Level 3
October 7, 2021

Thank you for the response, but this is for Lacerte and two businesses. I need a solution for ProConnect for one home office and one Schedule E room rental.

sjrcpa
sjrcpaAnswer
Level 15
October 7, 2021

ProConnect is based on Lacerte.

My recommendation:

Set up the asset twice-once for home office and once for Sch E

The more I know the more I don’t know.