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Deductions & credits
The Special Depreciation Allowance (SDA) is an automatic bonus depreciation that allows you to save money on your taxable income. TurboTax is telling you not to elect out of SDA so you don't lose it. The SDA goes on Form 4562. If you don't want to take it, you can remove the form. Here's how:
How do I view and delete forms in TurboTax Online?
- Open or continue your return in TurboTax.
- In the left menu, select Tax Tools and then Tools.
- In the pop-up window Tool Center, choose Delete a form.
- Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
Here are IRS instructions where you can find more details about the SDA.
@Mandiblephone
‎February 17, 2021
10:25 AM