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New rental property asset and accumulated deprecation

alpha b
Level 1

I have entered new assets for a rental property on the deprecation schedule however the accumulated deprecation is not showing on the balance sheet unless I force it in.  How do I get this to show on the balance sheet without forcing it? 

 

This is a S Crop return and section 179 is not allowed because the business has a loss. 

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5 Comments 5
TaxGuyBill
Level 15

What software are you using?

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qbteachmt
Level 15

Don't you just love it when an S Corp is used to own real property?

Which tax year are you preparing and what did you use for Date In Service?

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alpha b
Level 1

I am preparing 2020 taxes and used 09/02/20 as the date entered.

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alpha b
Level 1

I am using Lacerte

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qbteachmt
Level 15

This Help article includes a video:

https://proconnect.intuit.com/community/federal-taxes/help/entering-a-depreciable-asset-in-lacerte/0...

 

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