Margaret CPA in OH Posted April 8, 2014 Report Share Posted April 8, 2014 Finally doing my own return. I have qualified home office. This year, depreciation disappeared although data fields are there but locked. So I try to follow the instructions and enter on Fixed Assets. The calcs on the Home Office Exp sheet are wrong. If I enter the full value (minus land), line 38 shows it and line 39 shows the business basis, 6.25%, but the calculation for depreciation, 2.564%, looks to the total basis. If I input the 6.45% amount on fixed assets, line 38 shows that but 39 shows the basis as $615 but then the depreciation calculation is correct at $252, same as last year and other years. Guess I need to call tech support. I hesitate to file with the wrong basis even though I know the depreciation is correct. Thoughts? My first big glitch and I am not thrilled. At least it's my own return. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 8, 2014 Report Share Posted April 8, 2014 You have to choose home office as the type of asset. Are you doing that? Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted April 8, 2014 Author Report Share Posted April 8, 2014 Hah! It seems all I needed to do was shut it down. This morning when I opened the return, all was right with the world. I guess sometimes the calcs need time to simmer. Yes, I did have everything marked as home office. The red warnings took me there. Thanks! 3 Quote Link to comment Share on other sites More sharing options...
Terry O Posted April 8, 2014 Report Share Posted April 8, 2014 I have found that a number of caculations need to have the return closed and reopened inorder to get the correct information to flow. When all else fails - -reboot!!!!!! Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 8, 2014 Report Share Posted April 8, 2014 I've found that the 8829 only shows the original home basis, not any improvements, but the total depreciation is right. Maybe the IRS wants it this way? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 8, 2014 Report Share Posted April 8, 2014 I have found that a number of caculations need to have the return closed and reopened inorder to get the correct information to flow. When all else fails - -reboot!!!!!! Sometimes, saving the return calculates the return. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted April 8, 2014 Author Report Share Posted April 8, 2014 I did see that the improvements depreciation added to the building depreciation. Took a while to get to that, too, but finally found it. I guess so long as the details are in FA and tied to Home Office, all is good. Just threw me for a loop and not at a good time. Quote Link to comment Share on other sites More sharing options...
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