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Massachusetts 2021 auto depreciation limit
TurboTax uses the correct $10,200 limit (multiplied by business percentage) for 5-year (MACRS) auto depreciation with no special allowance election for federal taxes, which is published in the IRS 2021 table for new trucks-vans-small SUVs. However, TurboTax uses a lower $3,560 limit (multiplied by business percentage) for Massachusetts in their worksheet. Can anyone find where this dollar amount is published (or if TurboTax is wrong)?
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March 7, 2022
10:57 AM