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Get your taxes done using TurboTax
@Mike9241 wrote:since 2024 is the final year for a 5- year asset placed into service in 2019, i would only make sure that the current depreciation + all prior depreciation was equal to the cost.
Yeah, I agree. The first few years are water under the bridge at this point (2024 is the last). Thus, @Mike9241 has a good approach; just make sure the asset is fully depreciated as of last year (i.e., total depreciation equal to the cost of the asset).
May 2, 2025
1:21 PM