Form 4562 Problem

[Chrisbry]

Yesterday, I printed off my corporate Depreciation for 2007. I used this amount in my calculations of TAXABLE INCOME.

After doing an update this morning to ATX -- my depreciation was all of a sudden $5325 HIGHER. I thought WT???? So I went back to compare what I printed yesterday vs what is there today.

I have 3 company vehicles (listed property-100% business use, fully depreciated) used by the salesmen. Everyone one of them had additional $1775 depreciation for 2007 -- keep in mind, these 3 vehicles were fully depreciated. Now I have accum depreciation over the basis.

WHAT is ATX doing this year? Have they not heard of: If it ain't broke -- don't try to fix it????

I wanted to see if anyone else has had this problem yet and to make everyone aware of this -- Check your Depreciation!

[Chrisbry]

Just wanted to update here -- according to ATX, there is a BUG in the 4562.

[mdmcfarland]

That might explain the return I efiled this morning. The signed 8879 form was returned so I could efile. As I was getting it ready for efile, I noticed that the amount due was different. I checked it out and there was a vehicle on his Schedule F 4562 that was depreciated out and all at once it had additional depreciation. I just went ahead and entered zero as it should have been.

I hope the bug doesn't spread to any other forms!