Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

Change to ADS in proseries

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

Labels (1)
0 Cheers
3 Replies 3
Level 11

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

Level 15
Level 15

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

0 Cheers
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.

0 Cheers