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Form 2106 Adjustments Worksheet - Depreciation Deduction Not Calculating

Level 1

I've entered a computer on the Asset Entry Worksheet which was purchased 09-04-20 for $871 and it is not calculating any depreciation $0. The asset life history shows basis of $871 and depreciable basis of $0 with 200DB and 5 yr Life. Is there a glitch with the software?

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6 Replies 6
Level 13

Is it claiming 100% Bonus Depreciation, thereby leaving $0 of depreciable Basis?

 

Level 1

No, nothing is populating in the bonus depreciation or depreciation deduction field.

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Level 13

Then it could be a glitch.  I read the TurboTax is having some problems with depreciation not calculating, and the tax-programming of ProSeries uses the same 'tax engine' and TurboTax, so it could be the same problem.

You could test a few things out if you want:

  • Delete the Asset Entry Worksheet and enter it again.
  • Enter the same information for a Schedule C.  Does it work?  If so, keep the Asset Entry Worksheet and 'move' it to the 2106 (it is one of the options in the top menu bar).
  • Go through the error check/review to see if some weird error is holding it up.
Level 1

It's working on the Schedule C. I don't see where to move it to the 2106 in the top menu bar though.

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Level 13

While on the Asset Entry Worksheet, go to "Forms", the "Change Activity".

Level 1

When I did that, the expense is not flowing into the 2106 and there are no depreciation reports populating under 2106. The $871 expense is showing on the Schedule C. 

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