Question
Proconnect Depreciation Calculation
Does anybody know how Proconnect calculates Depreciation Basis?
I have a Home Office calculation: Cost: $275,000
Business Use: 20%
Salvage/Basis Reduction (assume land): 41,250 (15%)
Prior Dep: $794, s/l, 39 year life Rate .02658
And then Depreciation Basis: $13,750 and Curr Depr $344.
Where does the $13,750 come from?
Why isn't the Dep Basis: $46,750? ($275,000 - 15% x 20%) and Current Yr Dep: $1,199?
