New client vehicle depreciation history not included in depreciation report

[david3]

New client has a Schedule C business. The business vehicle has historically been used 51% - 65% for business purposes. 

The vehicle depreciation information from prior year tax returns show Sec. 179 deduction and a prior depreciation amount. The vehicle is fully depreciated as the prior year vehicle information show no current depreciation.

I double checked my input and the input matches the prior year vehicle information. However, the vehicle doesn't appear on the Sch. C depreciation report, as it does in the prior year tax return depreciation report.

How do I get the vehicle historical depreciation information to appear on the depreciation schedule?

Thank you for your help.

[Tax_Lady]

1. 1st Question: How did you input your data?

     a. Select Forms Icon

     b. Select Depr Entry Wks and window opens up

         i. Click on the round radio button "Create New Copy. Enter a Description of the asset."

        ii. Click on the Finish button, another window opens to Activity Type

             a. A List of Activities Types: Form 2106 to Schedule F (this is how an asset gets on the correct Form/Schedule, and Depreciation Report)

             b. Pick the Activity that you're working with for that asset, and click on Next button

    c. Now you're in the Asset Entry Worksheet fill out the form paying attention to lines about Section 179 Deduction, Special Depreciation Allowance (ie Bonus Depreciation Section 168 not the same as Section 179) - Regular Tax and AMT, Prior Depreciation - Regular Tax and AMT.

        i. After the Prior Depreciation line is Depreciation Deduction (a calculated value) and is the "historical depreciation amount" that should match the total of Asset Depreciation (Accumulated Depreciation)

           a. This will not show line by line the historical depreciation taken

           b. For something like that probably enter using a Supporting Worksheet (but is it worth that detail?)

           c. Remember, if the Business Use % falls below the Original Business Use % there may be some Recapture that flows to Form 4797 - Sale of Business Use Property - taxed at ordinary income tax rates. But think you said these were assets fully depreciated but still in use.

      ii. As scrolling down Asset Data Worksheet check make sure remaining Subtitles, such as: (State Depreciation, Section 199A, Detail Asset Information) are reflecting appropriate asset information.

2. When the Asset Entry Worksheet is completed, go back to Open Forms, select Depr Reports

      i. Select the button(s) which Report you want to view.

Hope this works out and answers your question.

Happy Tax Season!