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

Electing out of Bonus depreciation

Highlighted
Level 1

I want to opt out of 100% bonus depreciation for 2019.  Do I have to add an election to the return or just check the box on the asset entry worksheet?

 

Thanks

Labels (1)
0 Cheers
2 Replies 2
Highlighted
Level 15

You will need an election statement.  By checking the box on the Asset Entry Worksheet to elect out of SDA, PS will automatically generate an election statement for the asset class and Elections will appear under Forms in Use.

---------------------------------------------------------------------------------
Still an AllStar
Highlighted
Level 1

The election did not print out when I printed the return so I went in and made it myself.

 

Thanks

 

0 Cheers