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WARNING Lacerte calculation of depreciation in last year of depreciation under MACRS 27.5 year property is WRONG. Has anyone else reported it?

maw10401
Level 2

Lacerte is not using the month placed in service to calculate depreciation in the last month.  Lacerte is calculating a full year of depreciation in the 28th year.  If placed in service in July - December, there should actually be some depreciation in tax year 29.  But it will not calculate that.

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George4Tacks
Level 15

I assume you used method 85. What date was your item placed in service? What date did it sell? Did you indicate MM or HY? 

Give the info below and I will check OR if you are sure Lacerte is wrong, you report it to them directly using Ctrl + L to open a ticket. Attach the return and indicate what is wrong and they can analyze your data. 


ex-AllStar

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George4Tacks
Level 15

I assume you used method 85. What date was your item placed in service? What date did it sell? Did you indicate MM or HY? 

Give the info below and I will check OR if you are sure Lacerte is wrong, you report it to them directly using Ctrl + L to open a ticket. Attach the return and indicate what is wrong and they can analyze your data. 


ex-AllStar

View solution in original post

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maw10401
Level 2
Lacerte Support already confirmed that they calculate this incorrectly.   I have all the input correct.  I submitted an enhancement form under help feedback.
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