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Deductions & credits
Line 11 would show the 2023 amount of depreciation being claimed.
Double check the entries on the Asset Entry Worksheet for lines 4 and 6. According to the information you shared, those should be $330 for the total cost of the asset and 5% for the business use. That would mean that you are depreciating a total of $16.50 over 5 years. Check your 2022 tax return to see if you claimed an expense for that amount. You may have already claimed the asset without actually depreciating it. If that is the case, then you do not need to be depreciating the asset at all.
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March 24, 2024
5:47 AM