- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
If I can at least figure out why TurboTax used the Section 179 instead of bonus depreciation, when I believe I answered the questions correctly, then I think I'll be good (at least if that is what occurred). I'm going to guess that there was one question in there somewhere that wasn't answered correctly.
I did find the treatment for year two in both cases. If I can get 2018 fixed for the bonus depreciation instead of Section 179 and refile that, then I should be able to take approximately $5k in 2019, and have it fully depreciated by 2023. Otherwise, I would have to wait until 2024 before I can take anymore depreciation under Section 179 and not have it fully depreciated until later. At least that is what it seems to be.
Now if I can just get that all to work in TurboTax. 🐵