bpua
Level 1
12-06-2019
08:13 PM
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In the expense section of a Client's Profit and Loss Report, They have a "Depreciation Expense" amount and a "Taxes & License" amount. Where would I input these said amounts?
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mojocpa
Level 7
12-06-2019
08:13 PM
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Which module? Are you talking about book or tax depr?
George4Tacks
Level 15
12-06-2019
08:13 PM
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Assuming 1040 Schedule C -
Depreciation link is at the very top of Screen 16
Taxes & Licenses can go in Taxes and Licenses (4 choices there)
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Your previous question was about Partnership
Depreciation - Screen 14
Taxes & License - Screen 13 - Either Licenses and permits OR Taxes (6 choices here)
Here's wishing you many Happy Returns
abctax55
Level 15
12-06-2019
08:13 PM
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But you don't directly (override) enter the depreciation expense from the P&L; you enter all the assets & the depreciation flows to the proper schedule.
"*******Tax software is no substitute for a professional tax preparer*******
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