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Business Closed - Mid Year
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William-01
Level 1
03-13-2022
11:52 AM
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Good Morning,
A partnership closed mid-year. Schedule L is not balancing because accumulated depreciation is not populating to Column C, End of Tax Year. All assets have been entered as done in previous years, Form 1065 selected with appropriate recovery.
Short tax year for depreciation is checked with override entry for ending fiscal year. I cannot figure out why ProConnect will not calculate depreciation on a short tax year.
Any ideas?
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