I bought a computer and entered it as a 179 depreciation, but Turbo Tax is showing $0.

I also notice that every time I try to update the asset (just to be sure I did it correctly) the "This asset was new when you acquired it" is unchecked. I recheck it every time.

posted

There is a glitch in the system. Select the over $2,500 purchase option instead of $2,500 or less option. It should prompt you through the asset selection again. This way you can list the purchase amount and purchase date correctly, along with the deduction selection...one time 179 deduction OR depreciation. It took me over 20 minutes of reading through peoples questions and answers to figure out this work around. We have three schedule c's and I didn't have this problem on my first asset entry this year or previous years, so I knew something was wrong with Turbo Tax when this was showing up a '0' and kicking me back to the main page. I hope this helps everyone out there having this same problem.