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Over rides and efiling
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Patty7
Level 1
06-04-2021
04:01 PM
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I have a tax return that I am filing thru proseries. I really need to over ride the depreciation entries and still be able to efile. The properties were taken out of service to remodel and sell. Therefore, no depreciation should be claimed for 2020. Will this hinder the return being efiled?
I use LaCerte for a CPA that I help and his software allows for over rides and efiling.
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1 Comment 1
TaxGuyBill
Level 15
06-04-2021
05:39 PM
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You may need to uncheck the box for "error-checking" when e-filing the tax return (you need to e-file from Homebase to do that; you can't do it within the client file).
However, I'm not sure why you want to override. If it was taken out of service, enter the disposition date and leave the sales price BLANK. That removes it from service and stops depreciation.
If you want to preserve the Asset Entry Worksheet, enter 0% business use (or 0.01% if 0% gives you an error).
