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Level 1
December 7, 2019
Solved

How do we get ProConnect to calculate 179 deduction on new assets?

  • December 7, 2019
  • 1 reply
  • 14 views

The 179 deduction is not calculating on current year asset purchases.  Is there a setting in the asset setup screen to turn on 179 deduction calculations?

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Best answer by itonewbie

PTO may be there someday but, for now, it's not anywhere near being able to read minds and knowing how much someone would elect to expense under §179.

On the same input screen for Regular Depreciation, you should see a line for "Current Section 179 expense".  Enter the amount you'd like to expense and PTO would apply the limitations, the calculations of which can be found on one of the Worksheets.

1 reply

itonewbie
itonewbieAnswer
Level 15
December 7, 2019

PTO may be there someday but, for now, it's not anywhere near being able to read minds and knowing how much someone would elect to expense under §179.

On the same input screen for Regular Depreciation, you should see a line for "Current Section 179 expense".  Enter the amount you'd like to expense and PTO would apply the limitations, the calculations of which can be found on one of the Worksheets.

---------------------------------------------------------------------------------Still an AllStar