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HOW DO YOU ELECT OUT OF BONUS DEPRECIATION ?

sam-saba
Level 3
 
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5 Replies 5
IRonMaN
Level 15

There is box to check on the asset entry worksheet to accomplish that mission.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
sam-saba
Level 3

Thank you very much 

IRonMaN
Level 15

You betcha!

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
jnncpa1
Level 2

You also need to attach an election to your return.    Look for "IRC Elections" under the forms menu.

0 Cheers
IRonMaN
Level 15

The election will print automatically.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)