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New Member
posted Apr 14, 2024 4:12:38 PM

I added a new truck greater than 6000lb for 100% business use at the end of December. Where is depreciation captured, as a business asset or under bus. veh. expenses?

I bought the truck 12/27, it was supposed to be delivered in January, but arrived early.  The vehicle cost was $63K.  The truck is primarily used to pull trailers with tractors and other equipment.  When I enter the minimal expenses I had for the year in the Business Vehicle Expense section, I get a deduction of $473.  Is this all I get or am I supposed to add it as a Business Asset also for the depreciation component?  Under Business Asset I do not see an option for vehicles.  

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1 Replies
New Member
Apr 14, 2024 5:27:30 PM

I think I may have figured it out.  When I went into the forms view, there was a box regarding keeping personal use mileage records that was not checked properly.  I changed that and the deduction was inline with my expectations.