Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Feb 28, 2021 1:18:21 PM

depreciation

how do I take 100% bonus depreciation on QIP.  I only see the Sec 179 option

0 1 380
1 Replies
Level 9
Mar 2, 2021 4:09:57 PM

Here's how to take 100% bonus depreciation on QIP.

Search for QIP in the search box, and follow 

 

  • Line 5- For the type of asset, choose Other
  • Line 9a, economic stimulus property - check yes
  • Line g, bonus - choose 100% depreciation
  • Line 45, depreciation type - MACRS
  • Line 46, asset class - 15
  • Line 47, method - Straight Line

 

Here is a TurboTax article about depreciation of business assets.