Qualified improvement property placed in service in 2019 should have a 15 year life option, there is not one in Proseries. Is there a work around?

Forum|Forum|5 years ago
June 14, 2021
6 replies
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Just-Lisa-Now-

Intuit Community Champion

You need to choose J2, J3 or J4 in the list for the 15 year.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

C

colleen4Author

Level 3

Thank you, I did try that:). Proseries has an error message 'type of asset must not be J2 J3 J4 if date placed in service is after 12/31/17 please select type of asset J5 to report proper reporting of Qualified improvement property'

T

TaxGuyBill

Qualified Improvement Property is J5, but on the general information screen (where you first enter the taxpayer's name, address, etc.), there is a check-box near to top to make it use 15 years.

If I remember correctly, that is only needed on 2018 and 2019 returns.