Outdated TurboTax limit for MA auto depreciation?

[kevinmcn]

TurboTax uses an old $3,560 (multiplied by business percentage) limit for new auto/truck depreciation in 2021 MA tax filings.

- TurboTax references an old IRS Rev Proc 2003-75 Table 4 that shows a $3,360 limit without IRC section 168(k) bonus depreciation and provides inflation adjustments.

- The inflated limits were published every year only through 2017. Rev Proc 2017-29 Table 4 shows the inflated $3,560 limit used by TurboTax for MA without 168(k) bonus (and $11,560 with 168(k) bonus).

- However, these limits were revised in 2018 by TCJA. Rev Proc 2018-25 Table 3 shows the revised $10,000 limit applicable to MA without 168(k) bonus (and $18,000 with 168(k) bonus) and provides revised inflation adjustments.

- Rev Proc 2021-31 Table 2 shows the inflated $10,200 limit applicable to MA without 168(k) bonus (and $18,200 with section 168(k) bonus).

Why is TurboTax still using a 2017 limit of $3,560, rather than updating to the 2021 limit of $10,200, for new auto/truck depreciation in 2021 MA tax filings?

[ErnieS0]

Massachusetts does not recognize federal bonus deprecation.

Massachusetts follows the current Code with respect to Code § 168, except for § 168(k), for purposes of both the personal income tax and corporate excise. Therefore, Massachusetts adopts the changes made by the Act with respect to the depreciable life of QIP for property placed in service after December 31, 2017.

However, Massachusetts is decoupled from the bonus depreciation rules in Code § 168(k). Consequently, the Massachusetts depreciation deduction for QIP must be calculated under Code § 168 without regard to § 168(k).

TIR 20-9: Massachusetts Tax Implications of Selected Provisions of the Federal CARES Act

[kevinmcn]

I understand the Massachusetts depreciation deduction must be calculated without regard to section 168(k). My question is: Why is TurboTax still using the 2017 limit of $3,560 without 168(k) bonus depreciation, rather than updating to the 2021 limit of $10,200 without 168(k) bonus depreciation (based on the 2018 Tax Cuts and Jobs Act)?

[DaveF1006]

To clarify, when did you place the car in service for your business?

@kevinmcn

[kevinmcn]

My new auto/truck was placed in service for my business in January 2021.