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How do I fix car depreciation amount on Schedule C that is larger than allowable? Can I just delete depreciation?

 
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MarilynG
Expert Alumni

How do I fix car depreciation amount on Schedule C that is larger than allowable? Can I just delete depreciation?

If you have used your Business Vehicle for several years, it may be fully depreciated.

 

Change the Depreciation amount so it is equal to or less than the Cost of the Vehicle.

 

Click this link for more info on Depreciation for Disposed Business Vehicle.

 

 

 

[Edited 03/23/2020 | 3:03 PM]

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1 Reply
MarilynG
Expert Alumni

How do I fix car depreciation amount on Schedule C that is larger than allowable? Can I just delete depreciation?

If you have used your Business Vehicle for several years, it may be fully depreciated.

 

Change the Depreciation amount so it is equal to or less than the Cost of the Vehicle.

 

Click this link for more info on Depreciation for Disposed Business Vehicle.

 

 

 

[Edited 03/23/2020 | 3:03 PM]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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