It should be:
UCC start of the year + cost of additions = base amount
Turbotax gives me a much lower base amount.
When checking my detailed return from last year I see that turbotax automatically included an adjustment (additions minus dispositions) but there were no dispositions!
Have you allowed for the fact that any depreciable items purchased in the tax year are subject to the half year rule? If you purchased something for $2000 it is only going to add $1000 to the base amount, as you are only allowed half the depreciation on that item.
On this link, please check out the heading "Column 6 - Adjustments for current year acquisitions"
Have you allowed for the fact that any depreciable items purchased in the tax year are subject to the half year rule? If you purchased something for $2000 it is only going to add $1000 to the base amount, as you are only allowed half the depreciation on that item.
On this link, please check out the heading "Column 6 - Adjustments for current year acquisitions"