So it's a new asset placed in service July 2020. ( A $2400 laptop ). so it has to go on line 13 on the schedule c. i have tried entering in several places to generate the required form, but so far the only thing I've been able to generate is the depreciation schedule. I'm taking section 179 bonus depreication, so expensing it all in 2020, and I've noted that in the direct input screen, and I tried 2 methods: 1. linking the direct input with schedule C and 2. linking the direct input with form 4562 only. Both of those methods fail to populate schedule c and also fail to generate 4562. i'm stumped.
You definitely need to enter the basis for any computation to be done. For 179 though, you must enter the amount to expense instead of overriding depreciation. The reason you need to enter an amount is that the system wouldn't otherwise know how much your client elects to expense.
Still an AllStar