I am preparing a tax return with listed property. The vehicle was placed in service in 2020. Total cost was $47000 We deducted $18100 in the first year. The depreciable basis is now $28900. Vehicle used 100% for business.
Why is Turbo Tax calculating zero depreciation expense for 2021? I read the rules and I though the deduction should be $9700. Am I missing something?
