Next Year Depreciation feature

[David]

Client wants to know what his depreciation numbers should be for 2012 so he can book them in his 2012 financial statements. I am using the next year depreciaiton feature in form 4562 that shows the 2012 depreciation.

Some of the 2012 depreciaition numbers show zero and the asset isn't fully depreciated. I can't see any difference between the way those assets were entered into asset entry that may cause this problem.

Has anyone encountered this? How do we correct the calculation so it shows 2012 depreciation for the asset?

I would like the 2012 depreciation schedule to look correct before sending it to the client.

Thanks.

[michaelmars]

are you sure there wasn't bonus on them making them 0 for next year, of did the life run out and you just have a short period depr left?

[David]

No, I checked for those things. The asset was purchased in 2010 and no bonus depreciation was taken.

Is anyone aware of a glitch in the program?

[michaelmars]

ARE YOU looking at the correct activity?

[David]

Yes. Again, I can't see anything different in the way this asset was entered into Asset Entry than the other assets. There are some assets that only had $3 - $10 NBV at the end of 2011 that didn't show any 2012 depreciation. I'm guessing these are rounding issues and aren't a big deal.

However, the asset that I am concerned about was purchased in 2010 and the depreciation should be $720 in 2012. I can't override the zero amount in the "Next Year" report.

Any other suggestions?

Thanks.