@AmeliesUncle Thanks for your clarification. I have exactly the same issue, had a new car in 100% business use January 2023. The original purchase price is 49,421. I took max depreciation of 12,200 in 2023 with bonus depreciation of 8,000. Total depreciation in 2023 is 20,200. So in 2024, the depreciation basis is 29,221. According to your formula, only 20% of 29,221 = 5844 can be depreciated over the next four year. For 2024, the depreciation with 200 DB-HY rate is 32%, so the depreciation amount should be 32%*5844 = 1870. While on Form 4562, the depreciation is 3163. How did TurboTax get that number? I am confused how TurboTax works, wondering whether TurboTax has a bug. Thank you!
