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Schmidt016
Returning Member

Car and Truck worksheet - schedule C

Good morning,

 

I am getting and error on line 52 and can not clear the error.  I did notice that it looks like there is an error in the calculation of line 9 which is line 6 divided by line 5c.  My calculation is 42%, the sheet calculates 35%.

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2 Replies
JamesG1
Employee Tax Expert

Car and Truck worksheet - schedule C

In TurboTax Online Self-employed, I prepared a Car and Truck Expenses Worksheet for both:

  • a vehicle claiming the standard mileage rate, and
  • a vehicle claiming actual expenses.

The numbers are as follows:

 

Line 9 = 80% which is line 6 or 4,000 divided by line 5c or 5,000 for the standard mileage rate vehicle, and

Line 9 = 100% which is line 6 or 8,000 divided by line 5c or 6,000 for the vehicle claiming actual expenses.

 

Are you referring to line 52 of the Car and Truck Expenses Worksheet?  Is the vehicle on the worksheet being disposed of?  Please clarify.

 

 

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Car and Truck worksheet - schedule C

If the vehicle as varied in business percentage from year to year, TurboTax can not calculate the sale in the vehicle section.

 

In the vehicle section, you need to say you converted it to personal use.  Then you would need to MANUALLY calculate things and report it in the "Sale of Business Property" section.  If you do not know how to manually calculate things, you may consider going to a tax professional this year.

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