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Question

Started new business in 2017. can i able to take section 179 deduction for vehicle which purchased in 2016 but used in 2017 for business purpose ?

Forum|Forum|7 years ago
June 5, 2019
1 reply
19 views

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TurboTax Self Employed Online

Level 5

Yes, you will be able to place your vehicle use for business in 2017. There are couple of steps that you will need to do before taking the section 179 deduction for your vehicle, if you have not created your self-employed business in TurboTax already. Then, you will need to add your vehicle as an asset. TurboTax will ask you questions about your vehicle when you are going through the interview page questions.