Depreciation calculations

[user17618569045]

I'm having trouble with the automatic depreciation calculations for our business tax return.  Last year's projected depreciation showed $11,700 on one of our vehicles for the 2024 year.  We're working on the FY 2024 return now and Turbo Tax is only showing $3,742 for the vehicle depreciation amount.  We had the vehicle all year, so don't know why the amount would be different than projected. 

[Mike9241]

we can't see your return or vehicle entries. form 4562 should be present in your return is depreciation shown in part III or part V (this carries to page 1 line 7).

where does the $11,700 show up? 

This forum has no access to your return. in order try to help you determine what is proper, you would need to provide details of each vehicle including date placed into service, business and total milage, cost, type of vehicle, bonus and or section 179 depreciation taken and finally the amount on form 4562 line 11.

i first suggest you carefully review the entries for the vehicles. Since we can't access your return, we may not be able to supply a definitive answer. however, you could contact support and grant them access. 

[AmeliesUncle]

Did you enter it as 100% business use?

[EDIT:  See comment below.] Did you use Bonus Depreciation last year?  If so, that is likely the problem and the program is likely correct.  The last I checked, the projections were not correctly factoring in one of the rules for vehicles under 6000 pounds.

EDIT:  Wait, based on the number $11,700, I just realized that this vehicle must have been placed in service in 2022, so my previous though may be not the problem.  Did you use Section 179 for the vehicle in 2022?  Did you elect out of Bonus Depreciation?