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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- 40 year alternate depreciation calculating incorrectly this year
40 year alternate depreciation calculating incorrectly this year
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cfish
Level 2
03-30-2022
08:01 PM
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Out of the blue, Pro series has switched my pre 2018 40 year ADS (rental) assets to 30 years. I have many rentals that go back many years. If I hadn't had a sale of one of these this year, I wouldn't have noticed but this could have been a real problem. All prior years were working correctly. This seems like a program error & I don't want to go hunting to override the assets it applies to. Fix?
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TaxGuyBill
Level 15
03-30-2022
08:09 PM
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Yep, this error has been around for at least several weeks. No indication from Intuit that they will fix it.
cfish
Level 2
03-30-2022
08:12 PM
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Thanks for the quick reply. I did a search but didn't see where it had come up.
