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Depreciation -179

cpa1008
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
George4Tacks
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
abctax55
Level 15

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

(I wanna be a member of the pot stirring club too)
cpa1008
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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sjrcpa
Level 15

That's bonus depreciation.


ex-AllStar
George4Tacks
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

cpa1008
Level 2

Thank you so much!!

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cpa1008
Level 2

oh got it! Thank you so much!

abctax55
Level 15

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

(I wanna be a member of the pot stirring club too)
cpa1008
Level 2

Thank you so much!!

abctax55
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?

(I wanna be a member of the pot stirring club too)
sjrcpa
Level 15

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


ex-AllStar
cpa1008
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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