PatriciaV
Expert Alumni

Business & farm

If you were unable to claim the full amount of the special "bonus" depreciation last year, TurboTax would have carried the unused portion forward to your current tax return. The carry over deduction should be automatically applied. Look at Form 8582 Passive Activity Loss Limitations.

 

Note that you can claim special depreciation only once for an asset and only in the year it was placed into service. You should see additional depreciation expense in subsequent years, based on the remaining balance after the special depreciation was applied.

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