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Depreciation asks for prior year

If there is a fiscal year entered on page 1 (of Form 1120, 1120S, 1065, or 1041), the beginning year date is considered the beginning of the year. Any assets placed in service before that date are considered prior-year assets.

This information applies to all years of the UltimateTax software.

 

Solution Articles:

Entering Depreciation

4562 - Depreciation and Amortization

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