ken4
Level 3
05-10-2020
10:16 AM
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Thanks for the good answers which helped lead to the issue.
I combined all of the assets for the sale of the property rather than a sale of multiple improvements over the years which obviously gave a skewed result and expensed the remaining depreciation. I used an acquisition date 30 years ago when the property was originally purchased so there would be no remaining depreciation and the software expensed on Sch E the difference.
It's certainly a nuisance having the allocate the sales price through all of the assets.
I've used other tax software that would combine assets for a sale and have no idea why Proseries has never added this feature.
Thanks again, everyone.