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Change to ADS in proseries

taxprep19
Level 1

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

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3 Comments 3
dkh
Level 15

Wouldn't that need to be changed on the asset entry worksheet not on the F4562?

Just-Lisa-Now-
Level 15
Level 15

Agreed, any changes would happen on the asset entry worksheet.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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taxprep19
Level 1

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?

 

Thank youl.

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