Marie Posted March 30, 2008 Report Posted March 30, 2008 Vehicle had been used 100% in business. This year it has changed to 60%. When I change on the asset entry form, it shows no deprec because of deprec taken when it was 100% is more that what is allowed at 60%. Don't I get to continue to deprec the value of my vehicle at 60%? How do I make the asset entry tab work correctly or do I just overide and keep pencil records as to amount I have deprec. Quote
carolynm Posted September 8, 2008 Report Posted September 8, 2008 I'm encountering this same issue with a return I'm working on now. What is the CORRECT depreciation calculation for a vehicle whose business use decreases say from 100% to 60% business use? I would think the current depreciation calculation should ignore prior depreciation claims... Quote
kcjenkins Posted September 13, 2008 Report Posted September 13, 2008 But the TOTAL depreciation can not be more than the 60% limits it to, so if it stays at 60% you might have no depreciation this year. But over it's life, you will get the full 60%. Quote
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