DMarkM1
Expert Alumni

Business & farm

TurboTax already uses this table information.  If you enter the purchase price 1000 and enter a date you put into service in the last quarter say 11/15/2021, and used it for business 100% from that date on.  The depreciation will be $50 (5% of 1000) per the table.  

 

The business use percent is for the time when it was a business asset.  So if you used it as a personal computer for 10% of the time between 11/15/2021 and 12/31/2021 your depreciation will be 90% of $50 ($45).  

 

Next year the entire year will be considered for the business asset so the table for year 2 will apply automatically but you can edit the asset and change the business use to say 80% (because you also used it a personal computer while it was a business asset) and your depreciation expense will be 80% of the calculated table value. 

 

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"