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I have a 27.5 asset that was not put on the books to depreciate until 10 years after its acquisitiion date (1988). It will no longer depreciate. How can I fix this?

wjh4848
Level 2
 
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abctax55
Level 15

Select "DB/SL" method instead of IRS tables (it's somewhere way down on the depreciation screen - I'm not at my computer) for just that asset, or change the Settings/Tax Return to "DB/SL instead of IRS tables. 

BUT if depreciation has been missed for ten years, there may be more things to discuss.

"*******Tax software is no substitute for a professional tax preparer*******
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1 Comment 1
abctax55
Level 15

Select "DB/SL" method instead of IRS tables (it's somewhere way down on the depreciation screen - I'm not at my computer) for just that asset, or change the Settings/Tax Return to "DB/SL instead of IRS tables. 

BUT if depreciation has been missed for ten years, there may be more things to discuss.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
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