- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Unable ot input prior year special depreciation
Hello,
I had a tax accountant filing my return until last year, but cost increased signficantly so filing my own tax return this year. There are several assets that were places in past few years where my CPA has taken bonus depreciations, but turbotax does not give me the option to input this figure. For instance, I had an appliances that I purchased in 2022 for $3600. I select 5 yr 200DB as depreciation method, but it only asks me for section 179 and depcreciation (excluding 179 and special bonus depreciation) that was claimed in the prior year. In this instance, in my last year (2023) return i had $0 depreciation for this asset in my federal return but had some portion of it in the state tax return. It should be the same for 2024. However, because I am not asked to input the special depreciation I only have two option 1) where I put in $3600 for depreciations taken in the prior year returns (then i get $0 deduction on my state return) or 2) out $3600 in section 179 which then for whatever reason on my state return it deduts $2600 (sum of LTD depreciation that its supposed to have depreciated as opposed to only poriton allocatable to 2024). I have few of these assets where its not able to calculate it correctly. Can someone point me to where I can input the special bonus depreciations taken in other years? Thank you