Depreciation Adjustment

From: "Joel Elias" <joelhe@my-dejanews.com>
Subject: Depreciation Adjustment
Date: Wed, 24 Feb 1999 20:19:14 -0000

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I am trying to prepare my wife's Sub. S corporation return myself, but am stumped on one point. Last year, she had $4,900 depreciation for a car purchased in 12/96 for $25,570 along with $1455 section 179 depreciation. Her accountant listed -581 on Schedule K-1 line 14a "Depreciation adjustment for property placed in service after 1986". the accountant is no longer in town and I can't figure out how this number is calculated. I tried various alternate depreciation tables (150DB, etc) and can't come up with the accountant's number. I assume I have to do a similar calculation for her 1998 taxes. The car depreciation for '98 is $2950 and she has $2802 in Section 179 depreciation. Can you help me figure our how to calculate K-1 L14a.

Thanks in advance for your help.


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