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Investing
While it's possible to change the depreciation method for an asset, the process is quite involved, involving the IRS, and usually requires the assistance of a tax professional.
The method applied for this year is correct. If you can accept what was reported last year and continue with 200DB/HY for the rest of the years remaining, you don't need to do anything.
Your other option is to upgrade to TurboTax Live, which will allow a tax expert to work with you by phone or screen sharing. They can help you verify that the vehicle was entered correctly last year and that your current status is good for the future. If you're interested in this option, see How do I connect with a Tax Expert in TurboTax Live?
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‎April 6, 2023
1:39 PM