TLLau
Returning Member

Get your taxes done using TurboTax

Thanks for all the responses. I agree with @Mike9241 that it doesn't matter much in my case as this is the last year.

 

But I was just wondering how TurboTax uses the convention, and I think that there's a problem. I was playing around with TurboTax using different scenarios.

 

If I placed the same asset in service in 11/15/2019 or 11/15/2020 or 11/15/2021 or 11/15/2022 or 11/15/2023, TurboTax consistently defaults to 200DB/HY

 

However, if I place the same asset in service in 11/15/2024, TurboTax uses 200DB/MQ.

 

Why is this the case?