Kansas depreciation detail will not project into my new asset entry worksheet

[Ekhaterina]

I am trying to set up a new depreciable farm asset in ProSeries.  I am using the exact same method to fill out the Asset Entry Worksheet as I have used in the past, and I also have the Depreciation Options worksheet set up the same as before.  But Kansas will not project into the State Depreciation section of the Asset Entry Worksheet. 

In the State Depreciation section of Form 4562 Depreciation Options worksheet, the software shows the currently entered state of KS, and the section called State Section 179 Dollar Limitation is bringing KS for Kansas in as it should.  I thought this setup should project Kansas automatically into the Asset Entry Worksheet in the State Depreciation section, but KS is not projecting to there, and I cannot even get any entries I place into the blank lines in that section to stay there.  My entries just delete themselves, I guess because the State line is blank, and I cannot fill it in, and it will not automate as it should. 

Can anyone tell me what I need to do to get Kansas to be acknowledged within my new Asset Entry Worksheet under State Depreciation?

[Terry53029]

The program usually works better in January after more updates are done. Just try again in January.

[Just-Lisa-Now-]

Looks like neither the Federal or KS state program will be ready/final until the end of January, I wouldn't get too worked up until then, lots of updates to come still.

[Ekhaterina]

Thank you, Terry.  Unfortunately, I do not have the option to wait until January because I am required to have this return e-filed by 12-31-2024.  I wish there were a way to get this taken care of manually somehow, but the return would probably not fly with overrides even if I could get them to stay in the return when I enter them.

[Ekhaterina]

 Hi Just Lisa Now,

This is my 2023 return which is being filed late.  I could not get it completed any sooner.  I am working with stepped-up basis that should have been included in the 2020 return upon my husband's passing, and may have to file Form 3115 to get the federal depreciation caught up to where it should be, and then see if IRS will accept the adjustment.  I am stuck with the requirement to get this done by 12-31-2024.  I do not know what I can do about Kansas other than just let it go and leave it blank and not take deductions for this in Kansas.  I am stuck between a rock and hard place with this.

[Just-Lisa-Now-]

Im not familiar with KS, can you right click and use override and stick the number you want in there? Or do you not know what it should be?

[Ekhaterina]

Although I do know the information that needs to be entered into the State Depreciation section of the Asset Entry Worksheet, the system will not allow me to override this. If I right-click on the line where KS for Kansas should go, the override option is shaded and not available.  And if I try to enter the data for Kansas while leaving that KS line blank, my entries just disappear.  I can't get it to do anything.

[Just-Lisa-Now-]

Can you override the entry on the KS return (again, Im not familiar with KS, so Im not sure how/where this appears), rather than the state section of the asset entry worksheet on the federal?

[abctax55 · Accepted solution]

If filing by 12.31.24 (and the Federal "will" have to be paper filed, don't know about KS) and you can't get the software to cooperate consider filing & amending.

[Terry53029]

Just as ABC said you will have to paper file, as e-file will not be open for several weeks. You should uncheck e-file, and then see if you can over ride.

[Ekhaterina]

Hello ABC,

ABC, thank you for your suggestion to go ahead and file the 2023 return, then to amend it later to get the stepped-up basis adjusted as it should be.  I had not thought of the possibility of amending for this purpose.  With that knowledge, and also recognizing  that my deadline for filing is too close to delay any further, I did mail in my federal and Kansas 2023 returns today at the post office using certified mail with return receipt requested.  This, after removing all entries I had made yesterday attempting to start the stepped-up basis process within the return.

Terry, unfortunately I did not see your last response to try the experiment of removing the e-file options before I had already moved forward with the above process for mailing today, so I do not know whether that might have fixed the problem I was having with the state depreciation section of the Asset Entry Worksheet. I am wondering if there was some simple reason like this that caused the software not to work.  Otherwise, it does not seem sensible that the state depreciation data would not project as it should because it used to work perfectly in previous returns.  It does not make sense to me that, even if Intuit is making update adjustments to the software, this particular item would be suddenly unresponsive to current use.  But then, I do not know what affects the Intuit update process might have, so that is another unknown.

Thanks to all who responded to my request for assistance.  You are very much appreciated.  I may have more questions when I start the amendment process later on, as I have not done an amendment previously in ProSeries.

Ekhaterina

[Ekhaterina]

Hello ABC,

ABC, thank you for your suggestion to go ahead and file the 2023 return, then to amend it later to get the stepped-up basis adjusted as it should be. I had not thought of the possibility of amending for this purpose. With that knowledge, and also recognizing that my deadline for filing is too close to delay any further, I did mail in my federal and Kansas 2023 returns today at the post office using certified mail with return receipt requested. This, after removing all entries I had made yesterday attempting to start the stepped-up basis process within the return.

Terry, unfortunately I did not see your last response to try the experiment of removing the e-file options before I had already moved forward with the above process for mailing today, so I do not know whether that might have fixed the problem I was having with the state depreciation section of the Asset Entry Worksheet. I am wondering if there was some simple reason like this that caused the software not to work. Otherwise, it does not seem sensible that the state depreciation data would not project as it should because it used to work perfectly in previous returns. It does not make sense to me that, even if Intuit is making update adjustments to the software, this particular item would be suddenly unresponsive to current use. But then, I do not know what affects the Intuit update process might have, so that is another unknown.

Thanks to all who responded to my request for assistance. You are very much appreciated. I may have more questions when I start the amendment process later on, as I have not done an amendment previously in ProSeries.

Ekhaterina

[abctax55]

YVW.   

It's not the 'best' of situations, but given your 12.31.24 filing deadline (who is imposing that deadline?) it is an option.