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

ASSET REBATE

Highlighted
Level 3
last updated ‎February 14, 2020 12:14 PM

Hi,

If the asset was already expensed using section 179 in prior years and it got a rebate in this year, how should I report the rebate in Lacerte?

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15
last updated ‎February 14, 2020 12:14 PM

Income

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

3 Replies 3
Highlighted
Level 15
last updated ‎February 14, 2020 12:14 PM

Income

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

Highlighted
Level 3
last updated ‎February 14, 2020 12:14 PM

I agree! So I should not change the asset value in Lacerte or QBO, right?

Thank you~

0 Cheers
Highlighted
Level 15
last updated ‎February 14, 2020 12:14 PM

Correct!  And you betcha!

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.