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shawlh
New Member

TurboTax is calculating depreciation wrong. asset $58,711 staring on 4/15/2020, using SL MM, the results should be $2,135 but TurboTax is putting $2,153. Why?

Why is it getting the wrong value and how do I edit it?
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1 Reply

TurboTax is calculating depreciation wrong. asset $58,711 staring on 4/15/2020, using SL MM, the results should be $2,135 but TurboTax is putting $2,153. Why?

you asking about the computation for 2024, perhaps prior years' were incorrectly calculated or entered and Turbotax wrongly tries to correct the error. 

Prior depreciation through 2023 probably should be 7917 - 1512 in 2020 and 2135 for subsequent years

You can fix it. that's an override that will prevent e-filing. if prior depreciation isn't 

Since the difference is small, I would suggest leaving it or correcting the prior depreciation entered. This assumes the in-service date is 4/15/2020 or that prior depreciation entered is not as computed above.

 

 

 

 

 

 

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