8829 Line 40 and 41: how to get house depreciation right?

[REBECCABAILIN]

can't figure out how ATX does Part III of the 8829.

if i enter house value and land value on 36 and 37 then it properly does basis on 39 and multiplies times business percentage to get 39.

you can't enter line 40 or 41 -- how does it get there? it seems that it should be an Asset Entry but i can't figure out how to make the Asset Entry "point" to the 8829.

help!!

[Kea]

I haven't used ATX in a few years. But I believe there was a tab at the bottom of the 8829 to enter the house asset info. Not sure if they still do it that way.

Good luck.

[Pacun]

I normally enter an asset with basis and years of depreciation and then I link it to the correct form or schedule.

[Bart]

At the top of the page (above where the form starts) there is a placce to enter the date the home was first used for business. Do you have a date entered there?

[REBECCABAILIN]

thanks, everybody.

good call, Bart, the first used in business date I had NOT had on there and now it gives me an allowable depreciation.

i had assumed there would be an Asset Entry (like all the other software I've used) that I could link to the 8829. I can't get an Asset Entry screen to come up, much less link it to the 8829.

I hope this Depreciation allowable (line 41) is being saved somewhere in case a client sells the house and needs to recapture the depreciation.