Assets and Depreciation carried over from 2021-2022 Proseries Professional

Forum|Forum|3 years ago
April 17, 2023
3 replies
20 views

Can someone please tell me what happened to the depreciation and Amortization Report that is supposed to be carried over from 2021 to 2022? I lost all the Vehicles that were being carried over. Tech support tried to help me, but it was a waste of time that I don't have. Something to do with Section 179?????

Why screw around with something if it works! thank you, Rich

ProSeries Professional

This topic has been closed for replies.

T

TaxGuyBill

Level 15

Is it just the report that is missing?

Or are all of the vehicle worksheets missing?

Or do you just not see a Form 4562?

PATAX

Level 12

Pro Series does an excellent job on the transfer of fixed Assets from the prior year to the current year and the depreciation reports. I have never had an issue with depreciation reports.

IntuitCharlene

Community Manager

There are a few things that will cause Asset Entry Worksheets to not transfer: Asset Entry Worksheet didn't transfer from the prior year has a list of the top causes. The most common one I see is if the activity they were linked to was accidently marked as "final".

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution" and then just changing the Accept as solution to Mark as Best Answer, mine gets cutoff, so it is too long. I changed mine to the following and it fits. -->**Say "Thanks" by clicking the thumb icon in a post**Click "Mark as Best Answer " to mark the post that answers your question.

S

SpankyAuthor

Level 4

Thank you for your reply. However, turns out that even if you are using actual Vehicle expenses, you still have to plug in something for milage, even if it's 1 mile in order for the depreciation report to populate!

Sadly, I was not aware of that. And even more sadly, three tech support agents that I spoke with weren't aware of that as well, and they even shared my screen!!!!! However, at least the last agent I spoke with had me sanitize and send in the return and then the issue was resolved.

IRonMaN

Level 15

How can the system calculate depreciation if it doesn't know what the business percentage is? Without entering mileage information it can't complete the calculations.

Slava Ukraini!

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