Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

990 depreciation fiscal year end

Highlighted
Level 4

I am working on a 2019 990 with fiscal year end of 6/30/2020.  They bought a car in February 2020 which falls in the fiscal year.  Lacerte is not calculating depreciation most likely since the program is for tax year 2019.  Shouldn't part IX Statement of Functional Expenses include depreciation for the fiscal year including the months from Feb - June 2020?

Thank you

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15

I just tried this and I got depreciation. 

Screen 1 > Year End = 6?

car purchased 02/06/2020 or something like that, method 55 or something like that? 

 


ex-AllStar

View solution in original post

0 Cheers
3 Replies 3
Highlighted
Level 4

I couldn't cancel this.  Lacerte does look to the fiscal year and does calculate.  I had an override.

Thanks

Highlighted
Level 15

I just tried this and I got depreciation. 

Screen 1 > Year End = 6?

car purchased 02/06/2020 or something like that, method 55 or something like that? 

 


ex-AllStar

View solution in original post

0 Cheers
Highlighted
Level 4

That's right, it does work.  Thank you