Small Business Entity having Accounting vs Tax Depreciation

Modified on: Sat, 7 Mar, 2020 at 3:09 AM

Small Business Entity having Accounting vs Tax Depreciation

1. Turn on tax depreciation at 4 squares and add the relevant depreciation values

2. Add the accounting depreciation expense at item 5

3. Go to the reconciliation section and manually create an addback for the accounting depreciation.

Note that if the entity is reported under SBE method, accounting and tax depreciation must be equal.

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