Land (net of any Amortization) error

HeaterHAP · #1 (**permalink**) 03-02-2015, 05:05 PM

I'm using H&R Block software this year (vs my CPA) for my rental LLC. The CPA listed the 'Land (net of any Amortization)' on the 1065 Sch L at the same value from 2011-2013 (no depreciation or amortization I think).

H&R Block software lists two errors regarding my entry (same value entered for Land value at beginning AND end of year. The errors state:

1065 Warning: The amount entered as Land (net of any amortization) at the beginning of tax year on Sch L does not equal the amount from Form 4562.

1065 Warning: The amount entered as Land (net of any amortization) at the end of tax year on Sch L does not equal the amount from Form 4562.

Yet I can not see where I am supposed to enter any land value on Form 4562. What am I missing?

Wnhough · #2 (**permalink**) 03-02-2015, 09:00 PM

Quote:

Originally Posted by HeaterHAP

I'm using H&R Block software this year (vs my CPA) for my rental LLC. The CPA listed the 'Land (net of any Amortization)' on the 1065 Sch L at the same value from 2011-2013 (no depreciation or amortization I think).

H&R Block software lists two errors regarding my entry (same value entered for Land value at beginning AND end of year. The errors state:

1065 Warning: The amount entered as Land (net of any amortization) at the beginning of tax year on Sch L does not equal the amount from Form 4562.

1065 Warning: The amount entered as Land (net of any amortization) at the end of tax year on Sch L does not equal the amount from Form 4562.

Yet I can not see where I am supposed to enter any land value on Form 4562. What am I missing?

Since land's life is not limited, there is no need to allocate the cost of land to any accounting periods. i guess you may contact the sioftware vendor for tech support.