Investors & landlords

The method is SL/MM and it was put into service 10/1/22. Therefore, depreciation for 2022 is 3/12 times $4,756/15 = $79.27. Prior year depreciation has nothing to do with current year in the straight line method. IRS tables show 6.67% for year 2 of a 15-year depreciation. .0667*$4,756 = $317.23. I tried recreating the asset using a manual method and choosing an asset class that has a 15-year depreciation and I got the exact same result - Asset Life History report is correct but the asset entry worksheet is incorrect. Going to call TT. Will report on the results.