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A
alpha b
Level 2
September 13, 2021

New rental property asset and accumulated deprecation

  • September 13, 2021
  • 2 replies
  • 7 views

I have entered new assets for a rental property on the deprecation schedule however the accumulated deprecation is not showing on the balance sheet unless I force it in.  How do I get this to show on the balance sheet without forcing it? 

 

This is a S Crop return and section 179 is not allowed because the business has a loss. 

    This topic has been closed for replies.

    2 replies

    T
    TaxGuyBill
    Level 15
    September 13, 2021

    What software are you using?

    A
    alpha b Author
    Level 2
    September 13, 2021

    I am using Lacerte

    qbteachmt
    qbteachmt
    Level 15
    September 13, 2021

    This Help article includes a video:

    https://proconnect.intuit.com/community/federal-taxes/help/entering-a-depreciable-asset-in-lacerte/00/3608

     

    Don't yell at us; we're volunteers
    qbteachmt
    qbteachmt
    Level 15
    September 13, 2021

    Don't you just love it when an S Corp is used to own real property?

    Which tax year are you preparing and what did you use for Date In Service?

    Don't yell at us; we're volunteers
      A
      alpha b Author
      Level 2
      September 13, 2021

      I am preparing 2020 taxes and used 09/02/20 as the date entered.

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