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Why Asset Life History depreciate a 5-year life car over 10 years?
My company has a tesla car purchased in 2019 and used 100 percent for business. I used 179 election and followed MACRS depreciation method. Car life is inputted as 5 years. I was expecting TurboTax to show 5 years of depreciation on the Asset Life History. However, TT listed depreciations from 2019 all the way to 2031. Can someone explain why this happened?
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March 6, 2023
12:39 PM