- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You have to edit the asset and change the cost to what it should have been when originally placed in service. TurboTax will automatically calculate the allowed accumulated depreciation and the depreciation for the current and future years will be correct. You will then have to amend the returns for the previous years.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 13, 2021
3:36 PM