Question
Turbot Tax Bussiness 2025 - Form 4562 show $0 depreciation in year 3 of a 5 year DDB vehicle
I am preparing the third year tax return for an S Corp. A vehicle was placed in service 1/1/23 and 80% Sec 179 expense was taken in 23. I've entered all the historical data into the asset worksheet. Unfortunately, TT calculates $0 for current year depreciation and the Asset Life History page show depreciation ending in 2032 with that schedule based on the full purchase price of the vehicle not the adjusted basis after the 179 taken in 2023.
I update TT this morning, but this error remains consistent from when I first created the tax return in March.
