HOW DO I REPORT VEHICLE PURCHASED FOR S CORP FOR $73,000 DOWN PAYMENT WAS $35,000

[Critter-3]

The vehicle is entered as an ASSET on the 1120S.

[Carl]

You may need to define if purchase "for" S-Corp, or purchased "by" S-Corp. Who or what entity the vehicle is titled to, can matter here.

[Anonymous_]

If you are using TurboTax Business, you will initially want to indicate the status of the S corporation's use of the vehicle in the Business Info section (see screenshots).