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Depreciation -179

Level 2

I inputted assets on the Lacerte and it automatically deducts as section 179 which I do not want to.

Is there any way that I do not do the 179 deductions on the asset entry?

 

1. Detail

pic 1.JPG

2. Dep Schedule

Pic2.JPG

Thank you

 

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1 Solution

Accepted Solutions
Level 15

Shown in the input screen you posted as Special Depreciatiation.  Select NO if you don't want it. 


ex-AllStar

View solution in original post

11 Replies 11
Level 15

Are you sure it's §179, and not bonus depreciation that "Lacerte is automatically" deducting?

Former Chump..umm... AllStar.
"the game of life is hard to play"

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Level 2

Yes,

I inputted 2019 Asset, and it goes to Section 179 deduction.

On the Detail, there's no number on section 179 but when I go to Forms and click 2019 depreciation the 2019 assets depreciated with the 179 deductions. (F1120)

Dont know what to do.

 

Thank you

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Level 15

That's bonus depreciation.


ex-AllStar
Level 15

Shown in the input screen you posted as Special Depreciatiation.  Select NO if you don't want it. 


ex-AllStar

View solution in original post

Level 2

Thank you so much!!

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Level 2

oh got it! Thank you so much!

Level 15

YVW - pick one answer & mark it as the solution, please.

Former Chump..umm... AllStar.
"the game of life is hard to play"

If a post answers your question, click on *Accept as solution* for future searches
Level 2

Thank you so much!!

Level 15

"... when I go to Forms"

As in Form 4562, line 12 is showing §179 equal to the cost of assets put in service during the current year?

Former Chump..umm... AllStar.
"the game of life is hard to play"

If a post answers your question, click on *Accept as solution* for future searches
Level 15

I believe it is automatically claiming 100% bonus depreciation. You can elect out.


ex-AllStar
Level 2

Thank you for reply.

Im working on F1120, and when I input the 2019 asset, it automatically goes to the current 179 deductions on the form. 

Cant find the tool 😞

Thanks

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