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J
Jen2260
Level 3
March 4, 2021
Question

How do you pause depreciation for one year in lacerte without zeroing out the deprciation expense in each asset?

  • March 4, 2021
  • 2 replies
  • 16 views
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2 replies

C
Code_Reader
Level 4
March 4, 2021

Can you explain why you want to do this?

J
Jen2260Author
Level 3
March 4, 2021

I have a schedule c that I don't want to include on the current year tax return because of possible hobby rule issue but we may reactivate in the future, so I don't want any current depreciation taken and I don't want to remove all the assets.  I also want to avoid having to go into each asset and zeroing out the depreciation.

C
Code_Reader
Level 4
March 4, 2021

Got it. Can't help you there, I hope someone comes along who can.

 

Code_Reader

P
PamC
Level 6
March 8, 2021

When I do this I use code 17, "Form 4562 only", in the Form column (first column after the description of property).  You retain the asset on the schedule but it goes nowhere and you don't get diagnostics.

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