@Good-Golden wrote:
This is a C-Corp. I simply used Turbotax Business (downloaded version, 2019) and performed the steps I outlined. $1556 using 3 year straight-line works out to be $43 per month. Sep-Oct-Nov-Dec 2019 is $172.92. $311 is the straight-line 5-year depreciation for entire year. Why is Turbotax not calculating for the months used?
A computer uses 5 years, not 3 years. You need to use 5 years.
The depreciation is not monthly. You most likely are required to use the 1/2-year convention, which means the first year gets 1/2 a year of depreciation (if you placed more assets in service Oct-Dec, that MIGHT change things).
So a $1556 computer depreciated over 5 years should give you about $156 the first year.
