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Get your taxes done using TurboTax
Yes, you are using the correct method and an adjustment should be made going forward. When you reach the prior depreciation screen you must enter the actual amount of depreciation you did use for the past years.
One correction in your formula is that 2019, 2020, 2021 = 3 years as opposed to the '4' you used in your scenario. Three full years and one month in 2018 would equal $8,222.
The current year depreciation, 2022, would be $2,667 as you indicate for the annual amount.
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March 28, 2023
6:56 AM