Kea Posted February 27, 2010 Report Posted February 27, 2010 Is anyone else finding errors in the vehicle depreciation in ATX? Client sold vehicle that was put in service in 2007. Cost was $35,253 and $17,500 special depreciation was taken in 2007. 2009 business use was 89.97%. Truck over 6000 lbs. I calculate $2456. $35253*89.97% = 31717. Less 17500 = $14217 recovery basis. This number matches ATX. $14217 * 89.97% business use * 19.2% (3rd yr depr) = $2456. But ATX displays 40% depreciation rate and $1257 current year depreciation. Vehicle was sold 9/17/09, but I still can't match computer's figures. Client bought replacement vehicle 9/21/09 for $13800 (used) and 2009 business use was 93.59%. At 1st ATX was showing the same 40% depreciation rate and $5166 1st year depreciation and that didn't change regardless of the amount I entered for Section 179. I closed program and reopened, changed truck to under 6000 lbs and back again. It helped, but still shows 40% depreciation rate and has a low value for current depreciation (like sold vehicle). With no section 179, 1st year depreciation should be 13500*.9359*20%=$2527. ATX has $1569. Depreciation limits should not apply due to size, but even then I can't get to their numbers. ATX problem or is it me? (I admit this has not been my best tax year.) Thanks Quote
Kea Posted February 28, 2010 Author Report Posted February 28, 2010 I guess no one else had this problem. I'll just overwrite and go on. Quote
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