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How do you set straight-line depreciation in Turbotax for Business?
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How do you set straight-line depreciation in Turbotax for Business?
Found my answer. Under Type Z, Other Asset, I select ACRS (rather than MACRS) for depreciation type, then the depreciation methods show up, including straight line.
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How do you set straight-line depreciation in Turbotax for Business?
You need to provide more details, such as the asset you are trying to enter for the purposes of depreciation deductions and how the asset is being used (e.g., rental property, business asset, etc).
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How do you set straight-line depreciation in Turbotax for Business?
What I mean is, there doesn't seem to be a way to set "straight-line" for asset type Z. In my case, the asset (not building asset, it is a piece of equipment) is on foreign land, so it must be depreciated as straight-line.
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How do you set straight-line depreciation in Turbotax for Business?
Found my answer. Under Type Z, Other Asset, I select ACRS (rather than MACRS) for depreciation type, then the depreciation methods show up, including straight line.
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