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bonus depreciation
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alustgarten
Level 2
5 hours ago
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I have a 1120 client with a 6/30 year end. He purchased and put in service capital equipment after 1/19/2025 and is entitled to 100% bonus depreciation according to OBBB. ProSeries will not permit this input without generating an error message because the prior law did not permit 100% bonus. Does the software need to be updated and will that be accomplished before next week's filing deadline?
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sjrcpa
Level 15
5 hours ago
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"Does the software need to be updated" Yes
"will that be accomplished before next week's filing deadline" I wouldn't bet on it.
Is Section 179 a viable option?
How about extensions?
The more I know the more I don’t know.
