Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

30% special depreciation

Greta
Level 9

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

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
TaxGuyBill
Level 15

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

 

View solution in original post

4 Comments 4
TaxGuyBill
Level 15

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

 

Greta
Level 9

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

0 Cheers
TaxGuyBill
Level 15

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

sjrcpa
Level 15

Or you can elect out of the bonus depreciation and use the regular depreciation.

The more I know, the more I don't know.