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150DB Depreciation Calculations Incorrect?
I have a 7-year asset purchased in 2014 and 150DB/HY was selected as the method/convention. The cost basis was $6,500. I've used several depreciation calculators and they all say the same values shown below in the "Calculator" column; however, TurboTax has deducted the values in the "TurboTax" column:
Calculator | TurboTax | |
2014 | 696 | 696 |
2015 | 1244 | 1244 |
2016 | 977 | 977 |
2017 | 768 | 796 |
2018 | 603 | 796 |
2019 | 474 | 796 |
2020 | 1738 | ???? |
Why are years 4, 5 and 6 "stuck" on 796 and not following what seems to be the consensus via the calculators? Other assets of mine are different starting in year 4 as well (5-year assets).
‎November 1, 2020
6:22 PM