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Current year depreciation not calculating for a vehicle in an S Corporation return in SureFire. - Current year depreciation not calculating for a vehicle in an S Corporation return in SureFire
🔍 Current year depreciation not calculating for a vehicle in an S Corporation return in SureFire
This guide explains a common reason current year depreciation may not calculate for a vehicle in an S Corporation return in SureFire, and how to fix it.
⚠️ Before You Begin
Make sure you can access the Asset Wkt for the Vehicle and open the Vehicle/Listed Property worksheet.
🛠️ Resolution
This can occur when mileage has not been entered on the Vehicle/Listed Property worksheet.
📊 Step-by-Step Guide
Step 1: Open the Asset worksheet for the vehicle
Go to the Asset Wkt for the Vehicle.
Step 2: Open the Vehicle/Listed Property worksheet
Click the Vehicle/Listed Property button.
Step 3: Complete the worksheet
Complete the worksheet.
📝 Note
Verify the asset is linked to Form 4562 and it is not linked to the 4562 Summary.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form