As part of the bailout bill, the Sec. 179 was increased by $100,000 and bonus depreciation allowed for assets p.i.s. in a federally declared disaster. Where is this input so the system knows to take these addt'l amount?
To get the program to caculate the additional Section 179 and deprecation, you will need to mark each applicable asset as "Qualified Disaster Property (Ctrl+T)" in the Depreciation input screen (code 22 in IND). This input code is located in the Additional Information section of the Depreciation input screen.
Note: The location of the input is the same for all modules (Ind, Par, Cor, etc), though the actual code number may vary.
Kathie C
Lacerte Support
How do you get Lacerte to allow the additional Sec. 179 on an individual return, coming from a flow-through entity?
