Depreciation Report for 4562 is calculating wrong depreciation?

[zenith191]

Asset Description	Code	Date	Cost	Bus Use %	Section 179	Special Depreciation Allowance	Depreciable Basis	Life	Method/Convention	Prior Depreciation	Current Depreciation
2022 Kia Telluride	A	07/30/2022	53,975	76.45			41,264	5.0	200DB/HY	12,864	11,360

$12,864 prior depreciation was the Special Depreciation Allowance taken in 2022 when the asset was placed in service ($19,200 limit x 67% business use).

The depreciation table to use for 5.0 200DB/HY is Table 1. which shows 32% for the 2nd year. $41,264 x 32% = $13,204, not $11,360.

[zenith191]

Unfortunately the worksheet doesn't provide any clues as to how it is coming up with this number.

[Anonymous_]

What about the percentage of business use? Are you taking that into consideration?

[zenith191]

Yes. Cost $53,975 x 76.45% business use gets us to the depreciable basis which is correctly shown as $41,264.

[Rick19744]

deleted as I see regular and AMT depreciation are coming out the same.  This doesn't make sense.

[Rick19744]

I believe you are going to need to do one of several things:

• Call TT and have them look at it
• Make sure you have the most recent update
• It could be that there is a glitch as it is very early in the production cycle.  These things happen early on and if you wait for a couple of updates it may correct itself.

[Critter-3]

The form 4562 is not fully functional and will not be until 1/10 at the earliest so come back later : 

Go to this TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...