Ara441
New Member

Deductions & credits

Hi,

 

Thanks for your reply.

 

So, once I have completed the 3115 form.

  1. How to make the corresponding adjustments in TT?
  2. How to eliminate the asset that is already in TT using the incorrect depreciation method?
  3. Must I create a new asset in TT using the correct depreciation method to calculate the proper depreciation?
  4. If the depreciation adjustment is positive, must I add it to income on my tax return?

I will appreciate your help so much.