the straight-line depreciation calculates the entire year, instead of the period used: laptop bought 09/12/2019, using 3 years straight line, should be $173
1. Tell Us About This Asset: input Description; date of purchase (9/12/19); 100% business use
2. Describe This Asset: Other
3. Tell Us a Little More: Other Asset Type
4. How Much Did This Asset Cost: 1,556
5. Type Z, Other Asset
6. How Do You Want to Deduct this Item: Spread the deduction over several years
7. Is This Listed Property: Yes (confirming the computer input earlier)
8. Enter Asset Type and Class: Depreciation Type: Non-recovery property; Asset: 3 year
9. Choose a Depreciation Method: Straight Line
10. Enter Recovery Period: 3
11. Depreciation Amount in 2019: $0
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If I change my response:
8. Enter Asset Type and Class: Depreciation Type: No Entry; Asset: 3 year
9. Choose a Depreciation Method: SKIPPED
10. Enter Recovery Period: SKIPPED
11. Depreciation Amount in 2019: $519
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I have tried different combinations but the result is either $519 or $0. Is this a bug with how TurboTax calculates depreciation using straight-line. I understand that the default is MACRS.
Please HELP!!!
