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Deductions & credits
Thank you for confirming that I use the 5-year life for depreciation, as well as the business tax credit. I went thru the Asset Entry options, and "other" was the best option in the drop-down menu. ("Office furniture" also gave me a five-year depreciation schedule, but I wasn't happy using that as the descriptor, for obvious reasons). I'll do a spreadsheet in advance to track the interplay between the residential energy tax credit, business tax credit and depreciation to make sure that everything tracks. Thanks for your help.
‎December 20, 2024
10:09 AM
5,354 Views