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How do I enter percentage business use of an asset?

ventureconsult
Level 2
what depreciation method is Section 179 expense?
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4 Comments 4
George4Tacks
Level 15

This seems like two questions, so I will tackle only the title question.

In the upper left of the program is  seach box (spyglass icon) Enter PERCENTAGE and see if you can find "percentage of business use" in depreciation > click that. Scroll  down to Additional Information and you should find a spot to enter a percentage for business use. 

Now the 2nd question - It isn't https://www.law.cornell.edu/uscode/text/26/179


Answers are easy. Questions are hard!
ventureconsult
Level 2

Thanks so much George4Tacks.

I finally found the input in ProConnect for % business use. The 'Search' function was not helpful. Like so many things in ProConnect, it was hard to find. I do appreciate your assist though.

My question on Sect 179 was also ProConnect-specific; as once I identified Section 179 in the depreciation schedule, the program required a method of depreciation.  Kind of nonsensical, but I selected the method that might apply if I did not use Sect 179 - and it seemed to resolve the error message.

thanks again for your hlep.

George4Tacks
Level 15

@ventureconsult IRC 179 is not a depreciation method. The asset will determine the expected business life of an asset. https://proconnect.intuit.com/community/partnership/help/depreciation-methods/00/3537

I wish you the best of luck in this new venture. 


Answers are easy. Questions are hard!
abctax55
Level 15

@ventureconsult 

I suggest you get over the 'non-sensical' concept if you're going to continue as a tax professional  (/S).

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