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Level 3
March 31, 2024
Question

how does pro series calculate depreciation?

  • March 31, 2024
  • 1 reply
  • 19 views

client places in service non residential real estate on march 20 2023. 100% business

J1 in proseries.  basis = 2,850,000 which includes land of 962,466.

proseries comes up with  16,325 of deprec.

irs table  A-7a shows  2.033% yielding  2850000-962466=1887534 * .02033= 38374

am i in the wrong table? proseries help  seems "closed" this weekend. odd.

thanks, old sheldon

 

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1 reply

Intuit Community Champion
March 31, 2024

did a practice mock up, and I come up with 38315. ProSeries Pro 2023

Level 3
March 31, 2024

hello terry- what could i be clicking wrong in the locator?

Intuit Community Champion
March 31, 2024

Not sure unless you changed MACRS options. Scroll down on the worksheet to the bottom to see what method you are using. Should be MACRS, MM SL, 39 years, basis 1,887,534