Accum. Depreciation on Disposals

[lstacey]

I disposed of fully depreciated fixed assets in the current period.  The balance sheet reduced fixed asset cost by the predictable amount, but accumulated depreciation did not reduce for the sale.  Why?  I don't want to override Lacerte, but it seems to be wrong.

[abctax55 · Accepted solution]

How did you enter the disposition of the assets?

[lstacey]

I went to screen 16 and scrolled way down to General Disposition Information.  I entered a negative date for various.  It was a disposal, so no sales proceeds, and all were fully depreciated.  The date was the only entry I made.  Why didn't A/D decrease in the same way cost of fixed assets did on the B/S?

[abctax55]

Not sure....it (generally) works on mine.  
Try entering an actual date, or possibly the " -1 " in the field to "generate F 4797".  I bet one of those will trigger it.

[lstacey]

I tried your suggestion to enter an actual date, and I entered "-1" to "general F4797" but neither worked.  Great suggestions, though.  I just overrode the number on the B/S.  I don't like to do that but Lacerte won this particular battle, haha.  Thank you for your help.  Best Wishes!
fellow dog rescuer:)

[abctax55]

What module?
Seems to me I've occasionally had the same issue...I'll keep it in mind as I work thru extensions.
Sorry none of my suggestions worked; I don't like overriding either.
We should compare dog rescue stories 🙂

[sjrcpa]

Is it 1065 or 1120S with §179?

[abctax55]

:+1:

[kadodallas]

I'm having the same issue.  I'm going to override as well.  If you found a real solution, please let me know.  This is going to be my last  year with Lacerte.  It has been painful trying to figure it out and I've used this product for many many years.

[PoeticTaxes]

Software: Lacerte

Module: 1120S

Facts: assets were fully depreciated by the disposition date, assets scrapped for zero gain/loss, assets listed on depreciation schedule/section

Solution: Screen 16 > "Sale of Asset (4797/6252)" section > "Form 4787" sub-section > "Sales Price" = -1 (for none)