I added a $15,000 parking lot late last year (Sept. 2015). I added a "land improvement" asset and TT calculated $750 for my expense (yes, I am still doing my 2015 taxes).
See attachment for Asset Summary.
That doesn't make sense - it should be cost divided by years of depreciation (15 years), so that's $1000 per year, but since it was done during the second half of the year, the depreciation should be half that amount, right?
How is TT coming up with $750 depreciated expense for the first year?
