You are correct in the depreciation amount for 2024.
I would recommend you look at the depreciation detail to make sure depreciation has been correct for all prior years as well.
Based on the IRS tables, depreciation should have been:
- Initial year $4,086
- Each subsequent year $4,263 including 2024
- There could be $1 rounding here and there
- Beginning in year 10 and thereafter, it will change by a small amount each year as the percentage is adjusted up and down every other year.
Edit: Apparently the facts changed significantly from the original question, which is why this response does not agree with subsequent replies. You can't change the facts of an original question when someone is responding. The responses then don't make sense!!
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
