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HandiTax - Prefill the decline in value of depreciating assets in HandiTax

Prefill into Item 7F in a Company tax return.

Updated over a month ago

In HandiTax, in a Company tax return (C Form), for the depreciation deduction to prefill from Item 6X to Item 7F, the company cannot be marked as a Small Business Entity at Item 3, label F1.

The deduction for decline in value of depreciating assets may differ for small business entities, so if Item 3, label F1 is completed, HandiTax requires a manual entry at Item 7F.

Since the update to HandiTax 2024 V1.04, Small Business Entities depreciation expense is prefilling to 7W. The development team are aware and working on a solution.

In the meantime, for Small Business Entities, complete depreciation expenses in Details of expenses to be subtracted (not label 7F) and it will give you the same company taxable income.

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