Could you check to see if the TurboTax home and business is calculating section 179 full value depreciation correctly? Regular depreciation is giving me more depreciation value than full depreciation this year.
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Please clarify if this is depreciation for a new asset or an asset you have depreciated in the past.
Used item but new to me in 2024. Item cost $5800. I was trying to take a section 179 full price depreciation. When I chose that box in TurboTax it doesn’t change my tax liability but if I choose the regular depreciation box it does.
To clarify, can you tell us the type of asset and business (Schedule C, Schedule E)
Also, Section 179 Deduction can't create a business loss, is that the issue?
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