Assets and Depreciation carried over from 2021-2022 Proseries Professional

[Spanky]

Can someone please tell me what happened to the depreciation and Amortization Report that is supposed to be carried over from 2021 to 2022?  I lost all the Vehicles that were being carried over.  Tech support tried to help me, but it was a waste of time that I don't have.  Something to do with Section 179?????

Why screw around with something if it works!  thank you, Rich

[TaxGuyBill]

Is it just the report that is missing?

Or are all of the vehicle worksheets missing?

Or do you just not see a Form 4562?

[PATAX]

Pro Series does an excellent job on the transfer of fixed Assets from the prior year to the current year and the depreciation reports. I have never had an issue with depreciation reports.

[IntuitCharlene]

There are a few things that will cause Asset Entry Worksheets to not transfer: Asset Entry Worksheet didn't transfer from the prior year has a list of the top causes. The most common one I see is if the activity they were linked to was accidently marked as "final". 

[Spanky]

Thank you for your reply.  However, turns out that even if you are using actual Vehicle expenses, you still have to plug in something for milage, even if it's 1 mile in order for the depreciation report to populate!

Sadly, I was not aware of that.  And even more sadly, three tech support agents that I spoke with weren't aware of that as well, and they even shared my screen!!!!!  However, at least the last agent I spoke with had me sanitize and send in the return and then the issue was resolved.  

[IRonMaN]

How can the system calculate depreciation if it doesn't know what the business percentage is?  Without entering mileage information it can't complete the calculations.

[abctax55]

'Nothing  from nothing leaves nothing, if ya wanna be with me'.

Or, something like that....

[Spanky]

Wow, I should have asked you right from the beginning instead of wasting my time asking three Tech support agents that work for Proseries that had no clue either.  What I didn't know was that the report wouldn't populate at all even with last year's numbers.

[abctax55]

Yep... come here first. Always...

[Spanky]

Actually I did post this after the first rep couldn't assist me.  All I simply needed to know was that I had to enter the milage, which is at 100%, before the depreciation report would populate at all.  Thank you.

[TiredFarmer]

Some of these on here are the best and I hope they know who they even help someone out when they can't get their thinking straight on something simple. It took Ironman and the old pencil and paper way to even get me started this season.   Thank you all very much and again I appreciate you all more than you know!  Hope the rest of the year is good to you all.

[IRonMaN]

You have a good year too and hopefully an occasional nap so you aren’t so tired.