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How do you configure turbo to calculate straight line depreciation?

 
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4 Replies

How do you configure turbo to calculate straight line depreciation?

What are you trying to depreciate ?   How many years ? 

How do you configure turbo to calculate straight line depreciation?

buildings are automatically straight line.  for to add other other assets using straight line you need to select intangibles, other property

then select other asset type next window

next window select asset class - note using straight line requires using the ADS recovery period - see iRS pub 946  table b-2

then on next window select straight-line

 

Carl
Level 15

How do you configure turbo to calculate straight line depreciation?

You should not have to "configure" anything to use any type of depreciation. The program does it automatically for you. But for every rule, there is an exception. So just exactly what is it you're trying to depreciate?

How do you configure turbo to calculate straight line depreciation?


@Mike9241 wrote:

note using straight line requires using the ADS recovery period -


 

Straight line depreciation does not require ADS.  If TurboTax forces it that way, that would be an error in the program.

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