Turbotax Business not allowing me to edit my accounting method

Forum|Forum|3 years ago
April 18, 2022
1 reply
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When I first started my business taxes in Turbotax Business 2021, I was able to edit my account method under the about your business section. However, after getting a lot of information put in, it won't let me switch from cash to accrual. I click the edit button, but it just reloads and doesn't pull up a new window to change the method. I can edit all the other about your business options, except for the accounting method.

Is there something I have done that is blocking my ability to change this?

TurboTax Business Windows

AliciaP1

I can't recreate your issue in my software. It would be helpful to have a TurboTax ".tax2021" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions:

At the top menu in the black line at the top of the page go to Online.

From the menu, select Send Tax File to Agent.
You will see a message explaining what the diagnostic copy is.  Click Send and then you will get a Token number.
Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

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Crystal Pham

Hi there

I would like to submit the token number of 1252236 and I would like to change the account medthod for depreciation from 200DB to SL please,there was not an option for me to chose from the drop down ( please see picture attached) .please advise how to process it,thanks alot

LenaH

Generally, the depreciation method that you use for any particular asset is fixed at the time you first place that asset into service and is in effect for as long as you own the property. A change in the method of computing depreciation is generally a change in accounting method that requires the consent of the IRS and the filing of Form 3115. You can also choose to amend your previous returns to fix the depreciation error.

@Crystal Pham

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