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#1
02-11-2004, 02:56 PM
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 Re: ProSeries MQ 200DB calculation impyleaf[at]netscape.net (Mr. Leaf) wrote: - quote - > I am puzzled about a ProSeries depreciation calculation. I
Was 2002 a short-year return?> have a new 2003 client. I took his 2002 return and entered > it into ProSeries 2002 so I would have the information to > carry forward to 2003 and beyond. > The business bought a delivery van on 10/01/2002 for $2984. > In ProSeries2002 I set up the asset in the worksheet: 5yr > life, MQ200DB. The worksheet shows the depreciation expense > as $298. The same amount is carried forward to the Asset > Life History. This amount is wrong. Using the MQ table for > the fourth qtr, the rate should be 5% in the 1st year or > $149. I cannot figure out what I am doing wrong. Any ideas? Drew Edmundson, CPA (NC) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-11-2004, 01:58 PM
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| Re: ProSeries MQ 200DB calculation limpyleaf[at]netscape.net says... - quote - > I am puzzled about a ProSeries depreciation calculation. I
I ran your figures and get $148 first year depreciation> have a new 2003 client. I took his 2002 return and entered > it into ProSeries 2002 so I would have the information to > carry forward to 2003 and beyond. > The business bought a delivery van on 10/01/2002 for $2984. > In ProSeries2002 I set up the asset in the worksheet: 5yr > life, MQ200DB. The worksheet shows the depreciation expense > as $298. The same amount is carried forward to the Asset > Life History. This amount is wrong. Using the MQ table for > the fourth qtr, the rate should be 5% in the 1st year or > $149. I cannot figure out what I am doing wrong. Any ideas? (Pro-Series 2002) which is correct. Did you use the Car/Truck worksheet? The instructions state at top of asset entry worksheet to do that for vehicles. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-10-2004, 08:44 PM
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| ProSeries MQ 200DB calculation I am puzzled about a ProSeries depreciation calculation. I have a new 2003 client. I took his 2002 return and entered it into ProSeries 2002 so I would have the information to carry forward to 2003 and beyond. The business bought a delivery van on 10/01/2002 for $2984. In ProSeries2002 I set up the asset in the worksheet: 5yr life, MQ200DB. The worksheet shows the depreciation expense as $298. The same amount is carried forward to the Asset Life History. This amount is wrong. Using the MQ table for the fourth qtr, the rate should be 5% in the 1st year or $149. I cannot figure out what I am doing wrong. Any ideas? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 200db, calculation, proseries |
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