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Video instructions and help with filling out and completing Can Form 4797 Intuit

Instructions and Help about Can Form 4797 Intuit

Hi my name is Anthony from Intuit's Lacerte in this video presentation we will be reviewing how to input depreciation in the Lacerte tax program first from the clients tab you'll want to click into the client file if the depreciation asset you want to enter ties to a related schedule or form like a Schedule C E or F for example you'll want to first make inputs for that to be able to tie your depreciation back to it under the deductions category we will then click on screen 22 for depreciation the first thing you'll notice is the commercial property is in a black font color this means this asset info was entered in a previous tax year and was Proform it or transferred forward where inputs in blue our new entries that were entered this year or changed this year Lucerne has the ability to transfer assets forward each year and it will keep track of prior depreciation taken at the top of the screen is the quick entry grid which will have common input options needed to enter a depreciation asset the first field is the description of property then the form you want to tie the specific asset to the activity name a number is if you have more than one for that form it allows you to tie to that specific one the category is Jews on your depreciation schedule which will help with sorting them together the remaining fields are date placed in service cost or basis current section 179 and method to get additional information on a field you can click on the help tab in the bottom left corner this will show article links to common questions as well as specific information on the field you have selected click hide to...