moonpetty58
Level 3
 
0 Cheers
TaxGuyBill
Level 15

When you enter the sales information on the Asset Entry Worksheet, the program should calculate the proper tax, including the tax on the gain from the depreciation.

View solution in original post

0 Cheers
Just-Lisa-Now-
Level 15
Level 15
Bill have you run across any asset entry worksheets that the Prior Depr is missing? I find them randomly in my clients, I use the asset life history to fill in the blank spot, its really random though, Im wondering if there was a transfer bug multiple years ago that this info didn't carry over.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
TaxGuyBill
Level 15
I know that if you enter an asset that was previously "placed in service" (such as if you get a new client) and if you don't enter the "prior depreciation" then, it always remains blank until you sell the property, then it makes you enter it.  In the meanwhile, the program just calculated the depreciation based on what the "prior depreciation" should have been (based on current year's information).  So perhaps that is what is happening?
0 Cheers
Just-Lisa-Now-
Level 15
Level 15
Could have been, I inherited all these client files from my boss when he retired...they may have come from him like this.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Just-Lisa-Now-
Level 15
Level 15
Was just curious if youd ever run across it, like it was a glitch from years ago or something.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers