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I am a new user to Pro Connect who converted from Pro Series. On the 4562 Direct input page the Details button does not open a schedule? How do I input salvage value ?

Level 1
When computing state depreciation, salvage value is not reducing the Cost basis used in federal Direct input. I cannot understand why there is a difference in federal and state depreciation when both should be the same. Is there a way to change the salvage value for state input?
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1 Comment 1
Level 15

In Lacerte and PTO, it's best to select the correct state for sourcing (from the dropdown next to the entry box for amount) to ensure these numbers will flow correctly to the respective state(s).  Unless the state doesn't conform to the IRC, there's no need to make any input under ST. IF DIFF. (-1=NONE).

Still an AllStar