HOW DO YOU ENTER THE DEPRECIATION BASIS OF A BUILDING WITH NON DEPRECIABLE COST OF LAND

Forum|Forum|3 years ago
March 27, 2023
1 reply
15 views

Hello, I need to enter depreciable asset, a building that has cost of land which is not depreciable. How can I enter the cost of building and the cost of land for the depreciation expense and at the same time keep the record of actual cost for going forward

ProConnect Tax

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Best answer by Baxter13

It'll be in the forms when you view the return.

I'm a Lacerte user, and ProConnect is close enough to Lacerte that I can guess how it'll work more or less. ProSeries to ProConnect is a steep learning curve!

YOU ARE ABSOLUTELY RIGHT ABOUT TAHT.

THANKYOU

PhoebeRoberts

Intuit Community Champion

Personally, I set the building and land up as two separate assets.

B

Baxter13Author

Level 2

Thanks for the reply. Can I see the depreciation worksheet in proconnect? I am first time user after using proseries for long time.

PhoebeRoberts

Intuit Community Champion

It'll be in the forms when you view the return.

I'm a Lacerte user, and ProConnect is close enough to Lacerte that I can guess how it'll work more or less. ProSeries to ProConnect is a steep learning curve!

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