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arcclnc
New Member

Hey, we calculated farm deductions with a depreciation scale last year and I don't seem to it in the self-employed change this year-what do I do with the farm equipment?

We had multiple pieces of equipment that I can't seem to find in this new calculator...
1 Reply
Cattlerancher
New Member

Hey, we calculated farm deductions with a depreciation scale last year and I don't seem to it in the self-employed change this year-what do I do with the farm equipment?

I don't know what you mean by a "depreciation scale". Assets are entered into TurboTax after entering your income and expenses. TurboTax automatically calculates the allowed depreciation based on your asset entry information. They remain in the Asset Summary of TurboTax until you edit the asset when you dispose of it. You can and should print out a copy of your Depreciation Report each year to keep with your tax records. TurboTax will automatically carry your allowed depreciation forward year after year. If you are using the online version and log into the same account as last years, your 2016 allowed depreciation should be already showing in TurboTax. To find your Asset Summary, Edit your farm and go to Farm Asset section, click Start or Update.

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