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D
DGinsburg
Level 2
June 17, 2020
Question

Electing out of Bonus depreciation

  • June 17, 2020
  • 2 replies
  • 23 views

I want to opt out of 100% bonus depreciation for 2019.  Do I have to add an election to the return or just check the box on the asset entry worksheet?

 

Thanks

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2 replies

itonewbie
itonewbie
Level 15
June 18, 2020

You will need an election statement.  By checking the box on the Asset Entry Worksheet to elect out of SDA, PS will automatically generate an election statement for the asset class and Elections will appear under Forms in Use.

---------------------------------------------------------------------------------Still an AllStar
    D
    DGinsburgAuthor
    Level 2
    June 18, 2020

    The election did not print out when I printed the return so I went in and made it myself.

     

    Thanks

     

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