Level 12

Sorry for the late response ...


It seems like that 79.17% is the PERSONAL percentage.  And the "exclusion" is the personal percentage of use (79.17%).  So the report is just showing the total Basis on the first line, then subtracting the personal percentage on the second line, resulting in the Business Basis on the third line.  Does that make a little more sense?

So for ProSeries, all you need to do is enter the Total Basis ($56,665) and the "Prior Depreciation" of $4266.  Then let the program do its stuff.

Straight Line is usually part of MACRS, so yes, ProSeries will list it as MACRS.  Just makes sure it says SL (the program should automatically do that because the business percentage is under 50%)

View solution in original post