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How do you tell TurboTax to prorate depreciation of business assets for a partial year when you close your business during the year?
I told TurboTax that I had closed the business during the year. I did not sell the business nor any of the business assets. I looked at the depreciation worksheet and TurboTax appears to have computed a full year depreciation instead of a partial year. I thought the depreciation should be prorated only through the last day of business operation. Do I have to override TurboTax's calculation? Or?
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March 11, 2022
12:04 PM