turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

BobinCA
New Member

Regular Depreciation on building is Incorrectly using AMT Depreciation Adjustment/Preference

My regular depreciation on my rental building is showing an incorrectly calculated depreciation (Forms View Line 11) as in includes the AMT adjustment/preference (Forms View Line 14).

 

How do I remove the incorrect addition of this adjustment to my regular depreciation?

 

Specifics are:

 

Regular Depreciation: $5,995 (Should be $5,636)

Years to fully depreciate: 27.5

MACRS Convention: MM

Depreciation Method: SL

Cost Basis: $155,000

Date I started using it in this business: 5/16/2024

Business percentage: 100%

Sold: No

Asset Category 1 - Residential use

Section 179 deduction: $0

Special Depreciation Allowance: $0

 

TT Forms View Line 13 AMT depreciation: $5,636

TT Forms View Line 14 AMT adjustment/preference: $359

TT Forms View Line 11 Depreciation deduction $5,995

  

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question