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Mrrisk
New Member

Turbo Tax Depreciation Calculation Incorrect

How to override depreciation deduction. Depreciable bases/recovery period is $152,500/27.5 years. Deduction should be $5545, but Turbo Tax is calculating $10,106.  Why is it not calculating correctly and can this be overridden?

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2 Replies
PatriciaV
Employee Tax Expert

Turbo Tax Depreciation Calculation Incorrect

Please clarify the type of asset you are depreciating. What was the in-service date? Have you viewed the depreciation summary calculations at the end of the asset entry interview to confirm you entered the correct information?

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Mrrisk
New Member

Turbo Tax Depreciation Calculation Incorrect

Thank you for your response.  Figured out what i did wrong.  I added last years depreciation manually in error which affected the calculation.  Once removed, depreciation calculation was correct.  

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