IL Special Depreciation Subtraction

[bob4]

A heads up to anyone with an IL partnership with pre-2021 special 100% depreciation deductions.  Lacerte22 is calculating a depreciation subtraction on the IL return in error.  You will need to override the deduction per customer service, as the software does this calculation automatically - yes, even though it's incorrect.

Client had assets placed in service pre-2021 where 100% special deduction had been utilized.  Federal depreciation and IL depreciation were the same in those prior years, as IL had not decoupled from 100% special depreciation at that point.  Decoupling happened for years ending 12/31/21 and later.

Looking back to 2021 returns, this error appears to not be present.  I haven't had the opportunity to check other return types.

My PSA for the day...

[fdznavcpa]

Can someone from Lacerte please verify...

[bob4]

This was confirmed with customer support prior to my original post...

[sjrcpa]

@fdznavcpa You'll need to verify it yourself or take Bob's word for it. People from Lacerte rarely come here.