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New Member
posted Apr 12, 2020 4:46:00 PM

Schedule C. Lines 51 and 52 are incorrect. Dep and AMT depreciation allowed is too large. can I go to this form online and adjust amount?

0 4 1064
4 Replies
Employee Tax Expert
Apr 12, 2020 5:35:32 PM

Yes, you can go back to the Business Auto expenses and adjust the depreciation.

New Member
Jun 22, 2020 10:08:35 PM

How can you adjust the depreciation? I've walked through all the steps in this section multiple times and don't see how I can adjust it - it is "auto-calcualted" for me...

New Member
Mar 28, 2021 3:10:01 PM

I'm unable to proceed with depreciation allowed - please help.

Employee Tax Expert
Apr 1, 2021 8:24:46 AM

At the screen How do you want to deduct this item? you are given several depreciation options.

 

Select an option and click Continue.  At the screen Asset Summary, click Show details to see how the item is depreciated.

 

You may change the options and review how the depreciation changes.

 

To reach this screen,

  • Edit your self-employment activity. 
  • Scroll down to Assets and Edit.
  • At the screen Do you want to go directly to your asset summary?, click Yes.