Hello JamesG1,
Thanks for your reponse.
I am not able to see the picture you attached very well. The 184,161 is the building value and doesn't include any land value or claiming any land value. The property is used for business 100% of the time. How did you compute $35,438 as depreciation for prior years? If I take 6747 for each of the 5 years, then the depreciation amount should be 33,735 not 35,438 as you indicated.
A second confusion I have is in the year 2017 I bought a refrigerator for 944 that I marked it under special depreciation but the following year I marked it's depreciation value as 0. Then in 2019 I bought a water heater for 1558 which I again depreciated this time through section 179 but the following year in 2020 I marked it's depreciation as 0. Do I need to rectify my prior years depreciation based on this?
