WARNING Lacerte calculation of depreciation in last year of depreciation under MACRS 27.5 year property is WRONG. Has anyone else reported it?

Forum|Forum|6 years ago
December 7, 2019
1 reply
11 views

Lacerte is not using the month placed in service to calculate depreciation in the last month. Lacerte is calculating a full year of depreciation in the 28th year. If placed in service in July - December, there should actually be some depreciation in tax year 29. But it will not calculate that.

Lacerte Tax

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Best answer by George4Tacks

I assume you used method 85. What date was your item placed in service? What date did it sell? Did you indicate MM or HY?

Give the info below and I will check OR if you are sure Lacerte is wrong, you report it to them directly using Ctrl + L to open a ticket. Attach the return and indicate what is wrong and they can analyze your data.

George4TacksAnswer

Level 15

I assume you used method 85. What date was your item placed in service? What date did it sell? Did you indicate MM or HY?

Give the info below and I will check OR if you are sure Lacerte is wrong, you report it to them directly using Ctrl + L to open a ticket. Attach the return and indicate what is wrong and they can analyze your data.

Answers are easy. Questions are hard!

M

maw10401Author

Level 3

Lacerte Support already confirmed that they calculate this incorrectly. I have all the input correct. I submitted an enhancement form under help feedback.

J

John8290

Level 3

Has this ever been fixed?

I don't think so, because I'm running into the same problem this year.

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