LSTAX
Level 4
11-04-2020
03:50 PM
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I am working on a 2019 990 with fiscal year end of 6/30/2020. They bought a car in February 2020 which falls in the fiscal year. Lacerte is not calculating depreciation most likely since the program is for tax year 2019. Shouldn't part IX Statement of Functional Expenses include depreciation for the fiscal year including the months from Feb - June 2020?
Thank you
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LSTAX
Level 4
11-04-2020
03:57 PM
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I couldn't cancel this. Lacerte does look to the fiscal year and does calculate. I had an override.
Thanks
George4Tacks
Level 15
11-04-2020
04:01 PM
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I just tried this and I got depreciation.
Screen 1 > Year End = 6?
car purchased 02/06/2020 or something like that, method 55 or something like that?
Here's wishing you many Happy Returns
LSTAX
Level 4
11-04-2020
04:09 PM
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That's right, it does work. Thank you
