Auto Assets not transferring correctly from 2021 to 2022 1120S

[etctax2016]

I've had two depreciation issues pop on in my 2022 1120S auto depreciation schedules.  I have talked to ProSeries and they are aware of the issue, but I am not seeing it listed on the community discussion so I thought I would put it out there in case someone else is experiencing the same problem.  FYI - I am using Proseries hosting, so I'm not sure if this is happening in the desktop version.

Scenario 1: An auto that was put into service in 2013 and is fully depreciated, transferred over to 2022 as years 2013 - 2018 showing as 0 under the depreciation history.  The 2022 depreciation history is also now showing depreciation to be taken for years 2019 - 2034!!!

Scenerio 2: Under a different Client.  Auto put in service in 2016 (Cost $15,932) and fully depreciated under section 179 was sold in 2022 in the amount of $1200.  This should result in a $1200 LTCG since basis is zero.  Proseries calculated this sale to come out to be a loss of -$14,732!!  It's easy to figure out the math, Proseries calculated the orignally purchase price ( $15,932 - $1200 = $14,732)To make things worse, the 1st customer service agent I talked to basically had no idea what I was talking about!

INTUIT you must make preparers AWARE of these errors, it's a BIG DEAL and it should be a top priority! We are dependent that you are carrying over depreciation CORRECTLY and we shouldn't have to second guess that a sale of a business asset is being calculated incorrectly. 

[IRonMaN]

"INTUIT you must make preparers AWARE of these errors"

But they never do and evidently never will.  We have asked for disclosing issues for years, but it has fallen on deaf ears.  I don't know if they deem it too much work to disclose known issues or if there are so many out there that they are afraid nobody would buy the software if they were aware of all of the issues. 😱  

[etctax2016]

Don't I know it! Makes you wonder how many returns are out there with completely wrong depreciation amounts due to software issues?......wait don't answer that!!  LOL 😂 🙄  What is super frustrating for me is that the response "please wait to file the tax return if you can".  The question is "How long am I supposed to wait?"; I've heard nothing back from Proseries regarding the issue. They are supposed to email me when the issue has been resolved. I think I'm still waiting for a response from  2018!  My client needs to have the 2022 return filed sooner rather than later, and I like to produce quality work in which my calculations are CORRECT.  We pay a lot for our software and it shouldn't be too much to ask that something as simple as computing CG is in question.

[IRonMaN]

Their standard reply for fixes is "in a future update".  In the year 2525 there will be updates ------------- hopefully it won't take that long for your issue to be fixed 😀

[Just-Lisa-Now-]

I saw a similar complaint a few weeks ago, did you transfer the file from 2021 to 2022 recently, or was it earlier back in January?

[Skylane]

Great question Lisa, …. Just wondering if you renamed the file, then transferred again if it picked up whatever it was missing…. I would just LOVE having to redo a return because they broke it in an early release… Ever notice how business returns take a back seat to 1040s? Guess it’s the same rationale as professional software takes a back seat to DIYers….

Would be really nice if they published the issues as they became aware of them… (isn’t that what the alert banner was designed for?)

[Rafal]

• I am experiencing the same problem in 2022 on form 1120s. Asset life spreadsheet is different that the current year deduction. Especially in cases where special depreciation was taken in first year.I called proseries they ask me to wait 48 hours. 

[etctax2016]

So I have waited THREE WEEKS and there STILL is no resolution to this very basic need that depreciation is calculated correctly by Proseries!  I have called intuit every week since I first caught this issue and the standard answer, "they are still working on it".  for any of you that are having depreciation transfer issues the INVESTIGATION # IS 82843. .Please call and follow up on this, it's an URGENT problem.  I'm wondering how may returns have been filed incorrectly? When the IRS questions it, I wonder if the answer "my software didn't calculate it correctly" answer is going to fly. After 25 years of being a Proseries customer you are about to lose me.  FIX THIS PROBLEM!!

[etctax2016]

Hi LIsa,

Sorry I was just seeing your question now.  No the file was transferred in February.  The Investigation # is 82843.  I am hoping the Intuit community will raise stink and get this very important issue resolved!

[sabatini]

Just encountered this very same issue -- 1120S, transfer from 2021 to 2022, and 1 asset has lost it's depreciating history.  Couldn't figure out what was going on, and why the program wasn't acknowledging that the asset was fully depreciated.  Don't have time to wait for a fix, so I am overriding CY expense to zero.  Hopefully the issue is resolved prior to transferring to 2023. 🙂

[etctax2016]

Thank you for responding.  I know, it is so frustrating! I actually did a manual work-around too, because after over a month of waiting for a resolution, I needed to get the return filed too!  I still have heard NOTHING!  If you want to get on the email list that Intuit is supposedly contacting when the issue is finally resolved, the Investigation # is 82843.  Good luck with the rest of your tax season! 

[sabatini]

This would be helpful, thanks for the Investigation number.  Do you happen to know how I use this number to add myself to the list?

[etctax2016]

Call customer support, explain the issue, and tell them that you are not the only one who is experiencing this and that you know that there is a current investigation (#82843).  Tell CS that you would like to add your email to the list for any updates or resolution.