Hi tax experts,
I am running a farm business and I am depreciating a quad-bike / ATV. When I select Farm Machinery / Equipment (E2), Turbotax selects 200DB over 5.0 years for Federal. Sure, that's fine.
What's SUPER weird is that when I go to my California state return, the depreciation method changes completely. The ATV is depreciated over 7 years using 150DB. This seems like really odd behavior from Turbotax, especially since I thought 7 year properties should default to 200DB. Two questions here:
- Should I really have 200DB in Federal and 150DB for California - is this expected?
- Should I depreciate my ATV over 5 years in Federal and over 7 years in California - is this even valid?
