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Level 7
January 14, 2022
Solved

30% special depreciation

  • January 14, 2022
  • 1 reply
  • 8 views

How do I check the box for 30% special depreciation?

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Best answer by TaxGuyBill

Assuming you are preparing a tax return for after 2004, you don't.  For 2020 and 2021, only 100% applies.

 

1 reply

Level 15
January 14, 2022

Assuming you are preparing a tax return for after 2004, you don't.  For 2020 and 2021, only 100% applies.

 

GretaAuthor
Level 7
January 14, 2022

Ah, that explains why it kept giving me the 100% special depreciation, not a helpful rule.

Level 15
January 14, 2022

If you want a smaller amount, you might consider if Section 179 would apply and be helpful.