Welcome back! Ask questions, get answers, and join our large community of tax professionals.
  • Sign In
  • Created with Sketch. We apologize for the inconvenience: Our community is currently in read-only mode while we perform essential maintenance. Some features may be temporarily unavailable. We’re working hard to restore full access as quickly as possible.
    cancel
    Showing results for 
    Search instead for 
    Did you mean: 

    Bulk depreciation gives error - sent to form or schedule deleted this year

    DSM
    Level 1
    It shows as a critical error (using bulk depreciation for property sale with associated assets).
    0 Cheers
    13 Comments 13
    PhoebeRoberts
    Level 11
    Level 11

    Code each of the assets to Form 4562 Only, not to the deleted schedule. It has nothing to do with the bulk sale, just with the deleted schedule.

    abctax55
    Level 15

    Does PTO have the same "1" = delete this year, and "2" delete for next year? (Lacerte, PTO's big sister does 😉

    If so, did you mark the Sch C/E/F related to the assets as "delete for this year."?

    HumanKind... Be Both
    DSM
    Level 1

    The sale of property & dep assets is for a rental property used in business

    0 Cheers
    George4Tacks
    Level 15

    What is the error? Does it have to do with depreciation methods used? Is it a critical efile error? You may be able to just ignore the error and efile. If you can't give a full description of the error we (other users) can not help you.

    Contact Support EITHER https://proconnect.intuit.com/community/proconnect-tax-news-updates/discussion/proconnect-tax-assist... OR https://proconnect.intuit.com/support/en-us/help-article/intuit-account-settings/contact-proconnect-...


    Answers are easy. Questions are hard!
    DSM
    Level 1

    Sale of rental property w/1031 - property and assets on form Schedule E - depreciation assets gives a critical diagnosis Depreciation asset # Sent to form or schedule deleted this year US Ref #2025020

    0 Cheers
    abctax55
    Level 15

    As I previously asked.... DO you have the Schedule E marked as "delete THIS year"

    If so, don't do that.  Delete it for NEXT year.

    HumanKind... Be Both
    DSM
    Level 1

    Delete Next Year still gives the error - it only wants to be deleted this year. I tried to take off the disposition information entered for the sale and it still gives the same error. it almost feels that I need to delete the asset and rebook again.

    0 Cheers
    abctax55
    Level 15

    The 'delete for this year" I am asking about is the ACTUAL Schedule E, NOT the asset being sold.

     

    HumanKind... Be Both
    DSM
    Level 1

    DELETE FOR THIS YEAR error is on the asset being sold from SCHEDULE E and on the associated assets  (impovements, equipment) linked with the property being sold

     

    0 Cheers
    abctax55
    Level 15

    I give...buh bye

    HumanKind... Be Both
    George4Tacks
    Level 15

    Change DELETE FOR THIS YEAR to DELETE FOR NEXT YEAR. 

    Ya can't sell stuff that aint' there any more!


    Answers are easy. Questions are hard!
    George4Tacks
    Level 15
    0 Cheers
    abctax55
    Level 15

    @George4Tacks   Hope s/he can 'hear' you  😉

    HumanKind... Be Both
    0 Cheers