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Checkbox for taking Section 179 on "Qualifying Real Property"

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Checkbox for taking Section 179 on "Qualifying Real Property"

cherylrb

I am getting a critical diagnostic when taking section 179 on "qualifying real property".  There was a check box in the 2019 software that allowed this without getting a critical diagnostic but that check box is not in the 2020 input and needs to be put back in the Depreciation input screen.

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3 Comments
jimst
Employee
Employee

Hi cherylrb,

In ProSeries for tax year 2020, the two asset types on the federal Asset Entry Worksheet that can be "qualified section 179 real property" (i.e. real property for which a section 179 deduction is allowed) are types J5 (Qualified improvement property) and J6 (Roofs/HVAC/Fire/Alarm/Security). 

On which field is ProSeries generating the error message? 

jimst

cherylrb
New Member

I'm using Lacerte.  The Item is an HVAC.

skeubanks
Returning Member

QIP is now 15 year property not 39 year property. 

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