I drive Uber, and I'm trying to do vehicle expenses. The amount TurboTax is deducting for my vehicle expenses is swinging wildly from about $1000 to $4000 based on small differences in the number of miles I drove. The $1000 vehicle expense presumably has no depreciation at all, as I spent $2000 in gas and ~50% of my miles are for business.
Question 1--Is there a way to see how much it is taking out for depreciation? That's all I really want to see, I can probably figure out what it's doing from there. If I could see that everything below can be ignored.
Otherwise it becomes a couple tax questions. Here's the facts first:
Bought car April 2016
Car purchase value $22000
Car value day I started Uber ~11500
Starting mileage ~38000
Ending mileage ~50000
% Business use is definitely over 50% but not by much.
The first year I had the car I used actual expenses, drove for Uber for one week and hated it, but wrote off the $500 in vandalism fixes as a startup cost courtesy of the crazy homeless person that scratched the words "CIA N-----" in to my passenger door.
I figure my depreciation for this year should be 22000 / 5 * 50% of the year * 50% business use which is roughly $1100. This should make my vehicle deduction about $2500 with the gas expenses and such.
1. Can I use straight-line depreciation for 5 years for this car? I didn't drive hardly at all the first two years so I don't want to use MARCS or whatever it is.
2. If I can use straight-line depreciation, how do I make TurboTax do it?
