Proseries & ADS Depreciation

[Gretel]

Call me ignorant but I have a hard time understanding what the ADS system is. Not in theory but when it comes down to making the election in ProSeries since I do not see that option. Plus I just learned that electing ADS needs to show on Form 4562, Part III, Section C. Whatever I tried does not bring an entry to this part of the form.

F.e. 7/12 year property wanting to depreciate as SL:

First question: Can I just choose SL/7-year (is this still considered regular MACRS depreciation)?

2nd: If choosing SL/12-year then what entries do I need to make in ProSeries so it will show in Section C? Whatever I tried does not bring it over there.

[TaxGuyBill]

There may be other ways (such as overrides), but this is how I do it:

On the Asset Entry Worksheet, enter the information, but for "Type of Asset" select "other" asset (code "O" if you are doing Form 1040).
Now scroll WAY down to the bottom.
For "Depreciation type" enter "MACRS".
For "Asset class" enter "7".
For "Depreciation method" enter "Alternate Method".
For "Recovery Period" enter "12".

[Gretel]

It worked

Thank you so much, it really worked, showing me I didn't play enough with the options.