Question

farm vehicle

Forum|Forum|3 years ago
January 24, 2023
1 reply
0 views

Vehicle over 6000lbs is being depreciated using the 150% db vs the 200% db for use on a farm. I can not change it to 150%. This is the third year of depreciation. I really dont wish to change the declining balance

TurboTax Home & Biz Windows

JosephS1

No, you cannot change your method of depreciation without IRS approval.

If you wish to change the method from 150% to 200% declining balance you must file Form 3115, Application for Change in Accounting Method. You must include a justification for your action and any supporting documents. The list of acceptable evidence is included in the IRS guidance. Follow the links below for further information:

Form 3115

Instructions for Form 3115

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"