I am using TurboTax Business Desktop to prepare an 1120S (not a first year business). The prior preparer set some assets up as S/L HY. Since this is the first year I am preparing the return in TurboTax Business I need to add the assets to the system. The system is calculating the assets using 200DB HY. Since the company started with S/L we cannot switch. How can I make Turbo Tax adopt a the S/L HY method?
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Use the Asset Entry Worksheet in Forms Mode to enter or correct depreciation details, including convention/method behavior.
Thank you!!!
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