30 Year ADS Depreciation

[sbrener-eppsbren]

We are In the second year of owning a property (acquired in 2/2023) which was depreciated using the 30 year ads in 2023.

The program seems to assume the same depreciation amount for 2024 even though it was placed in service in February 2023.  In addition the depreciation does not appear on the schedule. 

There is no proper method in quick entry for ads 30 year depreciation for a prior year.  The only way I can figure to do it is to say in details life is 30 years, hardwire in the prior depreciation and hardwire in the current depreciation and leave the method blank.  Is there a way where the program automatically calculates the depreciation?

Also, is there anyway to get the depreciation schedule to print out the remaining balance to be depreciated?

[George4Tacks]

I think the process would look like this. If you did not use this software last year, you need to input the prior year depreciation. In the return there is a current year depreciation schedule AND a next year depreciation schedule.