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Troubleshooting ProConnect Tax critical diagnostic ref. 2025012 - Asset method inappropriate for date acquired
by Intuit• Updated 2 years ago
The following critical diagnostic is generating in ProConnect Tax:
Depreciation asset #: Method inappropriate for date acquired. (ref. #2025012)
Why is this diagnostic generating?
This diagnostic generates when:
- An asset is entered with a date placed in service of 12/31/1980 (or earlier) using an ACRS method, or
- Method 92 or 93 is selected for an asset placed in service after 12/31/1980.
Follow these steps to resolve this diagnostic for an asset placed in service on 12/31/1980 or earlier:
- Go to the Input Return tab.
- Go to the applicable Depreciation screen for your tax type.
- Locate the applicable asset from the Quick Entry grid.
- Click the blue Details button next to the asset to expand.
- Under the Asset Information section, locate the Regular Depreciation subsection.
- Select the applicable Method (Click on arrow to select from list):
- 91 = Straight Line
- 92 = 200% Declining Balance
- 93 = 150% Declining Balance
- Enter the Life or class life (recovery period automatic).
Follow these steps to resolve this diagnostic for an asset placed in service after 12/31/1980:
- Go to the Input Return tab.
- Go to the applicable Depreciation screen for your tax type.
- Locate the applicable asset from the Quick Entry grid.
- Click the blue Details button next to the asset to expand.
- Under the Asset Information section, locate the Regular Depreciation subsection.
- Select the applicable MACRS or ACRS method from the Method (Click on arrow to select from list) field.
- Assets placed in service after 1980 and before 1987 should use an ACRS method.
- Assets placed in service after 1986 should use a MACRS method.
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