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February 9, 2025
Question

DEPRECIATION

  • February 9, 2025
  • 1 reply
  • 0 views

We bought a used semi truck in Feb 2024 and first use was Dec 2024.  Turbo is calculating depreciation with a 3 year life.  I think it should be 5 years.  Am I right?  If so, how do I get Turbo to change the life of this asset?

1 reply

February 9, 2025

a tractor for over-the-road use is 3 years. general purpose truck is 5 years. check the category you chose for the semi.