Using book depreciation for Schedule L, Balance Sheets per Books in Lacerte

For more depreciation resources, check out our Tax topics page for Schedule C where you'll find answers to the most commonly asked questions.

If you entered book depreciation for assets in the Depreciation screen of Lacerte, you can follow the steps below to have book depreciation flow to the Schedule L, Balance Sheets per Books. Choose the applicable module for instructions.

Partnership

1. Go to Screen 25, Balance Sheet Miscellaneous.
2. Under the Book Depreciation subsection, select 4=Book in the Current year book depreciation (Ctrl+T or amount) field.
   • You can press Ctrl+E in this field to enter the book depreciation amount.

Corporate

1. Go to Screen 38, Balance Sheet Miscellaneous.
2. Under the Book Depreciation subsection, select 4=Book in the Current year book depreciation (Ctrl+T or amount) field.
   • You can press Ctrl+E in this field to enter the book depreciation amount.

S-Corporate

1. Go to Screen 30, Balance Sheet Miscellaneous.
2. Under the Book Depreciation subsection, select 4=Book in the Current year book depreciation (Ctrl+T or amount) field.
   • You can press Ctrl+E in this field to enter the book depreciation amount.