My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

How do I correct this for this year?

posted

Connect with an expert

2 Replies

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

No, that is exactly what you need to do. Because you had excess depreciation in the past be sure to correct the combined total of all depreciation you used in the past when that screen comes up. Keep your records so that when and if you dispose of this asset you have the correct depreciation expense used on your tax returns.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

Thank you!!!

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

Do you have an Intuit account?

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

My accountant last year depreciated an asset over 15 years at 200db. I guess you can't do that. Would it be an issue to file 15 years at 150db this year?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert