Special depreciation allowance for 2024 tax year

Forum|Forum|1 year ago
April 11, 2025
2 replies
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I read the IRS document regarding special depreciation allowances for the 2024 tax year. Is it concerning items in the 2024 tax year only? Our rental started getting used 06/01/2023 so it's first year of being a rental goes into 2024. Does the special depreciation allowance only concern things that started use in the 2024 tax year? I am unsure if they mean calendar year (first year of use) or tax year only?

MAK70

The special depreciation only applies to assets placed in service in the current tax year.

mmlomshekAuthor

I am getting special depreciation allowance errors on rental assets and property. The rental doesn’t qualify for the special depreciation allowance (SDA) deduction. TurboTax wants me to enter something into the box for SDA deduction and AMT SDA deduction. But I should leave those blank correct? Don’t input a 0 either? I haven’t used the SDA deduction previously either.

PatriciaV

Employee

If you didn't claim Special "Bonus" Depreciation on the assets in the year they were placed into service, you would leave both the SDA and AMT SDA boxes blank. If the SmartCheck process requires an entry, try zero.

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