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ProSeries users, need help please

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    ProSeries users, need help please

    I am recreating a 09 form 1040. The original return pts were 30 yr amortized with $87 deducted in 09 and it appears under VI of form 4562 and on ln 12 of Sch A. The $87 flowed to ln B9 of the AZ form 140 "Total Fed Depr". When I enter the pts to be amortized on Sch A in "other pts smart worksheet", the $87 appears on ln 12 of Sch A but does not flow to ln B9. Cross reference on B9 says flowing from Fed "asset entry" so I search the Sch A for any ways to open an Asset Entry and nothing. I dont know if the original return was done incorrectly or I am doing it incorrectly.

    #2
    Points

    In Pro Series Schduel a points are only entered in the other points smart worksheet.
    I have never seen a Form 4562 or a depreciation schedule for this.

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      #3
      Never have I

      Originally posted by Kram BergGold View Post
      In Pro Series Schduel a points are only entered in the other points smart worksheet.
      I have never seen a Form 4562 or a depreciation schedule for this.
      Kram, never have I yet that is how the CPA who prepared the original return did it. Besides, Ln B9 of AZ form 140 refers to Fed depreciation of an actual asset,

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        #4
        4562

        Isn't the 4562 used for tracking "business use" assets? If so, the only possibility I see is that the original preparer used the 4562 to determine and track the amortization as it would not show on the federal return. He/she would still have to enter it manually on the schedule A.

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