accountant prviously did my taxes, now with TT.
my accountant set-up an asset in 2012 (specialty coffee machine) depreciation to 5 yrs. Now with TT, it's selecting 7 yrs instead of 5 yrs to match my records. A second set of assets were set-up the same in 2013.
TT is wanting me to put this to asset class 7 yrs instead of 5 yrs.
You need to match the useful life your accountant used. You can either pick a different asset classification (5yr) OR use Other Asset and custom set it up. I recommend using another asset class (Construction machinery) 5 year useful life will work.
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