I am using Turbotax
2018 Deluxe. I have a problem with the
final year of SL annual depreciation. The
Date in Service is 4/1/1992. The Depreciable Basis of the asset is
$35,491. The method is SL with a 26.5
year life. The prior depreciation into
2018 is $34,147. The software is listing Current Depreciation for 2018 as $51. Since TurboTax, in prior years, has been
rounding off Current Depreciation to $1339, should not Current Depreciation for
2018 be $1012, the remainder?
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The depreciation should be over 27.5 years and what I get ( both by hand as also from TubroTax ) is as follows:
for 2018, Prior depreciation -- $33179,
Current ---1290
2019 $1022
Since you are on windows version, you can go to forms mode and check the Asset Life worksheet ---->
From the top ribbon click "view", from the drop down list select "forms"; new window opens with two panes --left lists all the forms/ worksheet being used, select "Asset worksheet" ; then on the right pane go down the form till about lower middle you will see "Asset life" --quick zoom button ; click that and you will see the whole asset life table i.e detailed depreciation allowable.
If you need more on this feel welcome to comment
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