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Re: Section 179 Expense

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March 22, 2013 09:24AM
Your accountant can make the adjustment on the schedule F when filing taxes. However to keep the accumulated depreciation correct as you move forward, the amount will need to be entered in the current year column on the Asset Depreciation screen.

If you would like to show the reduction in Depreciation expense for all of the 179 expenses, this can be done by going into Payment and Purchases -> Record Payment or Purchase.
Select yourself (or corrections) as the vendor. Set the Date to before your year end data (ex 12-31-12).
Under the items purchased, select the other expense button. Next select depreciation expense and enter the amount to reduce this account as a negative number. Click OK
Also under the Items purchased, select the other expense button and the account your accountant would like to have this offset to (ex drawing) and enter the amount as a positive number.

I hope this helps.

Jeff Geiger
TABS Support


jeff_geiger@trimble.com
SubjectAuthorPosted

Section 179 Expense

Next Century Crall Farms LLCMarch 20, 2013 01:34PM

Re: Section 179 Expense

Jeff GeigerMarch 21, 2013 01:11PM

Re: Section 179 Expense

Next Century Crall Farms LLCMarch 22, 2013 08:13AM

Re: Section 179 Expense

Jeff GeigerMarch 22, 2013 09:24AM



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