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Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
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- 2024 macrs deduction override
2024 macrs deduction override
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dfrelund
Level 1
12-30-2025
10:27 AM
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I am new to Proconnect. I am entering the clients 2024 return as filed to get practice. How can I override MACRS calculation? Equipment purchased 3/13/2023 cost 119,273 5 year DB HY, took 23,855 bonus depreciation in 2023. the return shows 2024 current year depreciation 38,167 (119,273-23,855=95,418 depreciable basis * 40% = 38,167. When entering in Proconnect, it shows 2024 depreciation of 30,534 which is 95,418 * 32%. How can I override the 32%? Thanks
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dfrelund
Level 1
12-30-2025
10:44 AM
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this is for 1120-S return
TaxGuyBill
Level 15
12-30-2025
04:35 PM
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@dfrelund wrote:
cost 119,273 5 year DB HY, took 23,855 bonus depreciation in 2023
2024 current year depreciation ... depreciable basis * 40%
How can I override the 32%?
I don't know that answer to your question (how to override).
However, at first glance the 2023 and 2024 returns are completely screwed up. Bonus depreciation in 2023 was 80%, not 20% and the property MACRS percentage for 2024 is 32%. Are you sure you want to override? At first glance, it looks like 2023 and 2024 need to be amended.
Intuit_Kallana
Employee
a month ago
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You can override ProConnect's MACRS' calculations using the following fields when entering the asset:
Current special depreciation allowance [Override] - This field will override Proconnect's calculation for bonus depreciation.
Current section 179 expense - This field will override Proconnect's calculation for Section 179
Current depreciation/amortization [Override] - This field will override ProConnect's calculation for current depreciation and/or amortization.
These fields are the same for all of the modules: individual, s-corp, etc. If you make an entry in any of these fields, ProConnect will use the numbers you enter and will not make calculations based upon the IRS rules. Please take note if the overrides are entered and take more than legally entitled, ProConnect will not issue any diagnostics regarding that issue.
