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Depreciation -179

11 replies
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I inputted assets on the Lacerte and it automatically deducts as section 179 which I do not want to.

Is there any way that I do not do the 179 deductions on the asset entry?

1. Detail

2. Dep Schedule

Thank you

Lacerte Tax

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George4TacksAnswer

Level 15

That's bonus depreciation.

Shown in the input screen you posted as Special Depreciatiation. Select NO if you don't want it.

Answers are easy. Questions are hard!

abctax55

Level 15

Are you sure it's §179, and not bonus depreciation that "Lacerte is automatically" deducting?

HumanKind... Be Both

C

cpa1008Author

Level 3

Yes,

I inputted 2019 Asset, and it goes to Section 179 deduction.

On the Detail, there's no number on section 179 but when I go to Forms and click 2019 depreciation the 2019 assets depreciated with the 179 deductions. (F1120)

Dont know what to do.

Thank you

sjrcpa

Level 15

That's bonus depreciation.

The more I know the more I don’t know.

sjrcpa

Level 15

I believe it is automatically claiming 100% bonus depreciation. You can elect out.

The more I know the more I don’t know.

C

cpa1008Author

Level 3

Thank you for reply.

Im working on F1120, and when I input the 2019 asset, it automatically goes to the current 179 deductions on the form.

Cant find the tool 😞

Thanks

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