I have terminated a lease which still had years of depreciation remaining (say $13,000.). In TurboTax, I entered that I stopped using the asset 9/1/2019. Does TurboTax automatically handle the remaining $13K as an expense or do I need to enter this amount elsewhere in TurboTax as a current year business expense? When I look at the Depreciation Worksheet, it seems like only $462 (a partial year) is showing up as depreciation in 2019, yet I expected the entire $13K to show up. Note - I use Cash Basis accounting method. Also - it is possible that the depreciation amount is getting limited in 2019 due to having a net loss if 100% of depreciation of new assets were included.
