New
Latest Lacerte update has changed the State Basis Reduction calculation on the Depreciation Schedule
The latest Lacerte update has changed how the program calculates the State Basis Reduction on the Depreciation Input.
Prior to the update (and in all prior years), Lacerte would treat no input as $0. Now the program treats this as same as Federal. If you input a -1 into this field, Lacerte will give you a -1 for the State Basis Reduction on the State Depreciation Schedule.
There is no way to get a $0 State Basis Reduction if there is a Federal Basis Reduction.
