topic Incorrect depreciation calculation in Get your taxes done using TurboTax

Incorrect depreciation calculation

Louweeg — Sat, 18 Jan 2025 16:29:52 GMT

I have put in the following in TT Business

Description: 4 store retail center

Purchase date: 01/01/2024

Cost/Basis: $1,750,000

Amount to be depreciated over 39.00 years $1,500,000

TT calculates $36,859 as year one depreciation

I get +$1,500,000/39 = $38,461.54

Why is TT calculating only $36,859?

Mike9241 — Sat, 18 Jan 2025 19:50:13 GMT

you only get 1/2 month depreciation the month it's placed into service

1500000/39*11.5/12=36859

Turbotax is correct.

Louweeg — Sun, 19 Jan 2025 13:04:52 GMT

Thanks