Current ACE

Enter the gross ACE depreciation whenever using the "X to Force" option or "Code to Use Accountant Computed Depreciation on All Assets" option. Enter an "X" in the "X" to Force" box for the particular asset you wish to force. Or enter a "3" or "4" on the Depreciation Options and Depletion Overrides worksheet > Depreciation Options and Overrides section in the "Code to Use Accountant Computed Depreciation on All Assets" field. This entry will force current ACE depreciation for ALL assets on the AMT/ACE depreciation report and in the computation of the ACE depreciation adjustment in the return. If zero ACE depreciation is desired, enter a zero. The amount entered is multiplied by the business percentage computed.

If an "X to Force" or "Code to Use Accountant Computed Depreciation on All Assets" election is made for an asset and no current ACE depreciation amount is entered, the computed current year ACE depreciation amount carries to the AMT/ACE depreciation report and is used to compute the ACE depreciation adjustment. A diagnostic message is issued indicating the computed amount.

This box is not valid for Form 1120S returns.