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Still have programming issue with my NH returns and it's October!!

pkellycpa
Level 4
NH does not recognize accelerated depreciation and so adjusts for the variance on the NH-1065.
The program not longer makes that adjustment. It adds back the accelerated depreciation but does not deduct the allowable depreciation. How can this possibly be at this late date?
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6 Replies 6
IRonMaN
Level 15

Well the good news is, the year is almost over so that you can soon start over again with brand new problems.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
PATAX
Level 11

Out with the old and in with the new... Or will it be out with the old and in with the old? Just wondering...😉

pkellycpa
Level 4

Same crap as old crap. "Sorry for any inconvenience"

 

Taxes-by-Rocky
Level 5

Just a suggestion, if Section 179 is not an issue, you might use MA return to gauge NH add-back.  Fed-state difference should be about the same.  Obviously, you need to check this but see "Form 4562  Depreciation Options" worksheet for states with similar limits.  Otherwise, you can run Fixed Asset Manager for a NH F/A portfolio under "Other."  [Yes, I know it's not a solution.]

And, since we're on the topic, be aware of NH's "one-of-a-kind quirk for 754 step-up adjustments.

Hope that helps.

pkellycpa
Level 4

Thank for your suggestion. It may shorten the time to work around.

BUT it is not a solution and should never have been an issue for a professional level tax preparation program.

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SaharaCarter
Employee
Employee

Hello, 

Thank you for bringing this to our attention. 

We will release a new version of the New Hampshire partnership product later this week (with a fix for the issue you described). 

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