Depreciation incorrect

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  • oceanlovin'ea
    Senior Member
    • Jun 2005
    • 2682

    #1

    Depreciation incorrect

    I have a new client this year. It is an s corp. They put a truck in service in 2002 and depreciated it for 5 years. So this should be the last year of the depreciation. But it is not depreciated out yet. So I went back and the depreciation for the first year is wrong. The amounts are right for all the rest of the years but not the first year. The other accountant only took 4413 and it should have been 6619.

    So what do I do now? Is there anything I can do now?

    Thanks

    Linda F
  • Roland Slugg
    Senior Member
    • Aug 2006
    • 1860

    #2
    If it were my client, I'd be inclined to just take the balance in 2007.
    Roland Slugg
    "I do what I can."

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    • oceanlovin'ea
      Senior Member
      • Jun 2005
      • 2682

      #3
      Same thought

      I was wondering if I could do that. They shouldn't just lose it because of an error.

      Linda F

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