Depreciation categories help

[kitkat]

I use Tax Act and I just want to double check which categories I should use for depreciation on form 4562. All items are used less than 50% business use. Thanks for your help!

Windows and another home improvement: Nonresidential Real Property

Laptop and iPad: Computer

TV and Dehumidifier: The choices are as follows-
Office Furniture & Fixtures
Other Asset
Non-Listed Property
Listed Property

[TomCopeland]

depreciation

I use Tax Act and I just want to double check which categories I should use for depreciation on form 4562. All items are used less than 50% business use. Thanks for your help!

Windows and another home improvement: Nonresidential Real Property

Laptop and iPad: Computer

TV and Dehumidifier: The choices are as follows-
Office Furniture & Fixtures
Other Asset
Non-Listed Property
Listed Property

Everything is correct. TV and dehumidifier should be listed as Office Furniture & Fixtures

[kitkat]

If Tax Act doesn't ask for my business percentage, then I need to calculate the percentage of business use and enter that amount instead of the whole amount, correct?

[TomCopeland]

Tax Act

If Tax Act doesn't ask for my business percentage, then I need to calculate the percentage of business use and enter that amount instead of the whole amount, correct?

Yes! This is a big problem with any tax software. It doesn't account for the fact that child care providers are not using business items 100% of the time in their business. So, for every shared expense you have, you must separately apply your time-space % before entering it into the software.