Form 2106 Adjustments Worksheet - Depreciation Deduction Not Calculating

Forum|Forum|5 years ago
January 24, 2021
8 replies
19 views

I've entered a computer on the Asset Entry Worksheet which was purchased 09-04-20 for $871 and it is not calculating any depreciation $0. The asset life history shows basis of $871 and depreciable basis of $0 with 200DB and 5 yr Life. Is there a glitch with the software?

ProSeries Professional

This topic has been closed for replies.

T

TaxGuyBill

Is it claiming 100% Bonus Depreciation, thereby leaving $0 of depreciable Basis?

P

ptrostAuthor

Level 3

No, nothing is populating in the bonus depreciation or depreciation deduction field.

T

TaxGuyBill

Then it could be a glitch. I read the TurboTax is having some problems with depreciation not calculating, and the tax-programming of ProSeries uses the same 'tax engine' and TurboTax, so it could be the same problem.

You could test a few things out if you want:

Delete the Asset Entry Worksheet and enter it again.
Enter the same information for a Schedule C. Does it work? If so, keep the Asset Entry Worksheet and 'move' it to the 2106 (it is one of the options in the top menu bar).
Go through the error check/review to see if some weird error is holding it up.

Sign up

Login with SSO

Let's get you signed in

Login with SSO