TaxGuyBill
Level 15

@WBB wrote:

The law appears to have changed in mid January 2024 extending back to tax year 2023 the 100% Bonus Depreciation for qualified assets.


 

As Anna mentioned, where are you getting that information?

There is a bill in Congress that proposes that change.  But it was only passed the the Senate last week.  It has not been voted on in the House or signed by the President (yet).  So it is not law yet.

However, it seems fairly likely it may become law.  *IF* it does become law, it will be quite a while before ProSeries is ready.  With most retroactive tax law changes, generally you need to wait until the IRS updates any forms and Publications, then after that is done, another two weeks for Intuit to update the software.