We purchased an RV (over 6000lbs) in 2021 and 80% was for business use. For 2021 we chose the special depreciation allowance and was able to depreciate the full 80% the first year (114k).
For years 2022-2025 it was 100% used for business, and TurboTax has been calculating the depreciation as follows:
2022- 57k
2023- 34k
2024- 20k
TurboTax Online has not allowed me to change the values in any of these boxes over the years, it only asks for the date put into service (2021) and purchase price. It's only now (while doing 2025 taxes) that I realized the total depreciated amount is now greater than the original cost of the vehicle, which doesn't seem correct. Do we need to amend past returns? The business has not made any income, always at a net loss even before adding depreciation expenses. So there's no business income to offset. Is it even worth amending at this point?
