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Get your taxes done using TurboTax
I solved the problem. You need to go to forms, then to form 4562. Pick each asset and select appropriate y/n in Elect OUT of special Depreciation Allowance. The step by step is broken since if you say no to any asset it applies that answer to all other assets. I thought that I read you needed to treat all assets with the same life the same way, but if anyone can verify that would be much appreciated.
‎January 13, 2021
8:52 AM