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Business & farm
Up until last year, we had our tax person do our taxes and to save money I'm doing our taxes this year. It's been going well except for this one hiccup. My husband bought ($5527) a training bike for his physical therapy business in 2023 which continues today. Our tax person did a bonus depreciation ($4422) on the bike the same year we bought it. When entering this asset into turbo tax I'm selecting equipment and general purpose. I specified the amount we bought it for, when it was purchased, and when it was placed into service. It then asks if it was a mid or half year and percent we use for business. The next screen asks if there were any section 179 deductions which I left blank. The next screen asks previous deprecation amount excluding 179 and first year special depreciation. I put the amount depreciated in the first year which was about $221. Then the next screen records the asset as completed but there is no field to enter special depreciation. Do you know why or where to find this? Thank you!