You'll need to sign in or create an account to connect with an expert.
TurboTax usually uses the mathematical method of depreciation, rather than using the "tables".
The order of the math is a bit questionable, but many other software brands do the same thing, so I don't know if it is actually wrong or not. It very well might be right.
If you don't like the way it is calculating it and if are using the CD/downloaded version, you can go into the "Forms" and into the "Asset Entry Wks". Scroll WAY down to the very bottom and check the box to use the "tables".
with varying % of business use, you must check the box to use Use IRS tables for MACRS property. failure results in Turbotax incorrectly calculating the current year depreciation
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
SB2013
Level 2
jjon12346
New Member
alvin4
New Member
iqayyum68
New Member
WadiSch
Level 1