- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Special Depreciation Allowance Not Available
I'm using Turbo Tax Home and Business. When inputting assets to depreciate from the home office, the program didn't ask if I wanted to use the 100% depreciation option allowed under Special Depreciation. When Turbo Tax reviewed the return at the end, it asked me to fill-in the Special Depreciation Allowance box on the form but offered no guidance as to what I might input - just a blinking space to fill in. I tried inputting the full cost of the item but the tax bill went up, not down as one would expect. Is this a program glitch? Bottom line - how do I take advantage of special depreciation this year? Thanks.
Topics:
May 3, 2020
7:28 PM