Current Depreciation Calculation I am currently using H&R Block to prepare our S-corps taxes. We purchased a passenger vehicle in June of 2011 for $148,150. Last year (2011) we depreciated $39,698 (MACRS=$10,068, 5 year, HY, 200 DB = $29,630). This year our current depreciation was calculated to be $4,900 (5 year, 200DB, HY, 32% Dep rate). The vehicle is only for business use. Our payments for our 5 year loan this year were over $25,000, excluding interest. I believe the current depreciation should be more than $4,900. Any help would be appreciated. |