I need to change to the ADS for some property put into service in 2020, but Proseries will not LET me make the changes I need to on form 4562. I've tried a few different things, but the software won't allow it.
Has anyone successfully added information to form 4562 on line 20 to calculate the depreciation correctly under ADS?
Thank you. I did try to change it on the asset entry worksheet. Can you help me with the mechanics of the program on this?
I chose "Other" for the type of asset.
Then on the bottom of the asset entry worksheet it asks for the depreciation type but doesn't give an option that I think would be appropriate for the ADS method. However, it gives me an error if I don't chose one of the options listed.
Then I chose ALT for the depreciation method.
I added the recover period and AMT information.
The program will not allow me to add the depreciable basis.
What else am I missing to get the program to calculate the ADS for this piece of property?