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    Depreciation

    1120 corp replaced its chimney in 2012. Took less depreceiation $3 than required due to fact already had NOL before depreciation. In looking at 2012 it appears they used 125 DDB, mid qtr, 15 year life. Corp owns building. I think this may be incorrect. How would you fix this going forward. 2013 appears to be in loss position before depreciation.
    Last edited by TAX4US; 02-04-2014, 10:49 AM.
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