Skip to main content
Level 1
December 7, 2019
Solved

Asset purchase date under asset disposition section of asset entry

  • December 7, 2019
  • 6 replies
  • 14 views

  Why is this worksheet requiring me to fill in an asset purchase date under the asset disposition section when this is a new 2018 asset with no disposition.  If I fill in the purchase date in the worksheet section the software assumes it has been sold and treats the entire balance as an expense.  Doesn't make any sense to me that I MUST fill in this date.  If left blank it shows as an error.

This topic has been closed for replies.
Best answer by TaxGuyBill

It is part of the Bonus Depreciation requirements.  One of the rules for Bonus Depreciation needs to know the purchase date.

Why we need to enter it in the disposition area rather than near the Bonus Depreciation area, I have no idea.

6 replies

December 7, 2019

It is part of the Bonus Depreciation requirements.  One of the rules for Bonus Depreciation needs to know the purchase date.

Why we need to enter it in the disposition area rather than near the Bonus Depreciation area, I have no idea.

IRonMaN
Level 15
December 7, 2019
Because that was the easiest place for the programmers to sneak it in :stuck_out_tongue_winking_eye::stuck_out_tongue_winking_eye:
Slava Ukraini!