The asset was a $6,050 machine press for my business. 100% for business use.
In 2018, the deprecation was $864 (first year)
In 2019, Turbo Tax automatically calculated $1,482 for the second year.
Is this a normal deprecation rate? How is the amount determined?
I purchased it later in the year (Aug 1, 2018). Could that be a factor?
