match CPA's Form 4562 Dep & Amort Report

[ltam1162]

My CPA was using 200DB/HY for a 04/15/2015 water heater replacement.  Basis = $1421.  2018 Prio Depreciation = $800.  2018 Current Depreciation = $177.  How do I use TurboTax Business to continue using the same schedule for this item in the Form 4562 for 2019?

[MinhT1 · Accepted solution]

You can enter the asset in TurboTax, put in the original price, the original date of service, and say in TurboTax that you use the Half-year MACRS convention. TurboTax will suggest an amount of prior depreciation which you can change to the actual prior depreciation, which in your case is $977 ($800 + $177).

[ltam1162]

The prior year's Form 4562 has the Special Depreciation Allowance for the water heater as 0.  TT Bus keeps puting Special Dep Allow = $711.  How do I force it to Special Dep Allow to 0?

[ltam1162]

Oh I had it categorized incorrectly.  I fixed it now.  Everything is good.  Thank you for your excellent advice!