@c0ach269 wrote:
1. Depreciations:
5 yr -> cost basis $20K. Current depreciation without bonus depreciation calculated by TTX, lets say $10K
15 yr -> cost basis $6K. Current depreciation without bonus depreciation calculated by TTX, lets say $500
Let's say Form 3115 has the section 481a adjustment as $35K. How do I calculate how much I need to fill out in the 'Other expense under 481a adjustment'?
1. As it meaning the whole $35K
When entering the assets, you need to tell TurboTax that you took Bonus Depreciation (that is effectively what Form 3115 and the 481(a) Adjustment are doing). Because the year 2021 had 100% Bonus depreciation, most likely you won't have any current-year depreciation for the 5 and 15 year assets.
At any rate, you enter the entire $35k. The current year depreciation has no effect on the amount of the Section 481(a) Adjustment (assuming the 481(a) Adjustment was calculated correctly).
