Greta
Level 9

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

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TaxGuyBill
Level 15

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

 

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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.


Ex-AllStar