Once you enter the equipment in TurboTax and list the cost and date put into service, TurboTax will calculate the depreciation for the year entered and the following years automatically.
If you didn't use TurboTax last year, you need to enter the asset when you enter your business expenses, in the Business Assets section, and then Assets being depreciated. You will be asked to enter the amount of any special or bonus depreciation taken when you first entered the asset, also the cost and date put into service. TurboTax will calculate the depreciation for the current and following years based on what you entered.
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