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Business Vehicle Depreciation - Older Vehicle not accurate
I have a business vehicle that I purchased in 2014. I purchased a second business vehicle in December 2019. When reviewing the depreciation amounts, I noticed my 2014 vehicle is less than 30% depreciated. The software is telling me I'm in year 6 of depreciation and limited the depreciation amount to $1783 (which I think should actually be $1875).
Per the SW, my second vehicle qualified for $18,100 1st year Section 179 depreciation and looks like its on track to fully depreciate in 6 years.
How do I "catch up" the depreciation on my older vehicle?
Thanks
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‎April 19, 2020
11:21 AM