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Celery63
April 7, 2025
Question

changed depreciation method by mistake how do I correct it?

  • April 7, 2025
  • 1 reply
  • 0 views
took special deprection in 2022 for vehicle. It was MACRS depreciation, accidentally changed it to SL straight line. how do i change it back

    1 reply

    D
    DianeW777
    April 7, 2025

    It depends. TurboTax would automatically change the depreciation method to straight line (SL) if the business use dropped to 50% or less because it is required under the tax law. 

    • Review the vehicle entry screens to double check the selections and mileage.

    Please update here to confirm your business  use percentage in 2024 (business miles divided by total miles).

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