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M
Mel7777
Level 4
April 3, 2022
Question

1040 Sch E - Entering prior year bonus depreciation

  • April 3, 2022
  • 1 reply
  • 13 views

I have a new client that elected a bonus depreciation in 2017, I am trying to tie out the depreciation for 2021 and need to figure out where to enter the prior period bonus depreciation for a Schedule E asset for a 1040 return in ProSeries in order to match the "next year's depreciation" from the prior accountant.  Any suggestions?

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1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
April 3, 2022

on the asset entry worksheet, right above where you insert prior depreciation, you can enter it

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    M
    Mel7777Author
    Level 4
    April 3, 2022

    Thank you Lisa - I am having some additional errors to get all the depreciation schedules to tie out... I don't think I have the full records of the previous elections.  Thank you for your help!

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