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New Member
posted Jun 6, 2019 3:10:43 AM

Why will Turbo Tax Business not allow 50% bonus depreciation on a new machine shed erected by a farm corporation?

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5 Replies
Level 15
Jun 6, 2019 3:10:45 AM

"shed"  ?    If you mean a building then the 50% bonus depr is not allowed on them.   <a rel="nofollow" target="_blank" href="http://www.nolo.com/legal-encyclopedia/50-bonus-depreciation-likely-extended-2014.html">http://www.nolo.com/legal-encyclopedia/50-bonus-depreciation-likely-extended-2014.html</a>

Level 15
Jun 6, 2019 3:10:46 AM
Level 15
Jun 6, 2019 3:10:48 AM

Ok ...then you must choose the correct section to get the bonus depreciation... just tested it & it works fine but READ every screen or you will miss the election ...

New Member
Jun 6, 2019 3:10:49 AM

That option does not appear on my screens.  Are you in the individual or business program?  After going in circles again I got it to work.  Had to enter the building information again and then go back and change it to farm...that seemed to work.

Level 15
Jun 6, 2019 3:10:51 AM

Oh sorry ... I am in the SE version ... however you should have the same options.