Chrisbry Posted February 19, 2008 Report Share Posted February 19, 2008 Yesterday, I printed off my corporate Depreciation for 2007. I used this amount in my calculations of TAXABLE INCOME. After doing an update this morning to ATX -- my depreciation was all of a sudden $5325 HIGHER. I thought WT???? So I went back to compare what I printed yesterday vs what is there today. I have 3 company vehicles (listed property-100% business use, fully depreciated) used by the salesmen. Everyone one of them had additional $1775 depreciation for 2007 -- keep in mind, these 3 vehicles were fully depreciated. Now I have accum depreciation over the basis. WHAT is ATX doing this year? Have they not heard of: If it ain't broke -- don't try to fix it???? I wanted to see if anyone else has had this problem yet and to make everyone aware of this -- Check your Depreciation! Quote Link to comment Share on other sites More sharing options...
Chrisbry Posted February 19, 2008 Author Report Share Posted February 19, 2008 Just wanted to update here -- according to ATX, there is a BUG in the 4562. Quote Link to comment Share on other sites More sharing options...
mdmcfarland Posted February 19, 2008 Report Share Posted February 19, 2008 That might explain the return I efiled this morning. The signed 8879 form was returned so I could efile. As I was getting it ready for efile, I noticed that the amount due was different. I checked it out and there was a vehicle on his Schedule F 4562 that was depreciated out and all at once it had additional depreciation. I just went ahead and entered zero as it should have been. I hope the bug doesn't spread to any other forms! Quote Link to comment Share on other sites More sharing options...
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