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- OBBBA 100% Bonus Depreciation in 2024 Lacerte for Fiscal Year End Corps after 1/19/25
OBBBA 100% Bonus Depreciation in 2024 Lacerte for Fiscal Year End Corps after 1/19/25
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EmilyRCPA
Level 1
a week ago
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Has Lacerte made any updates to accommodate for the OBBBA 100% bonus depreciation in the 2024 Lacerte tax software? We have corporations we are filing fiscal year end tax returns for and it's our understanding that 100% bonus depreciation can be taken for the first taxable year ending after January 19, 2025. Do we have to override the current special depreciation allowance for each asset? Or is there better way?
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Kathi_at_Intuit
Moderator
Tuesday
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Hi @EmilyRCPA ,
Thanks for stopping by the community. Have you reached out to Lacerte Support yet? They would be able to check into this. We also have a few posts about the OBBB. The One Big Beautiful Bill summary and tax changes does have comments on it that Intuit has been answering. Here is another post about the changes that we have in Community's News and Updates for Lacerte we have been adding updates to this post as we receive them.
We're looking forward to your contributions in the community.
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