Should my business vehicle be listed under both Assets and Vehicle Expenses? I took full 179 deduction on it last year as Asset, so it seems I shouldn't deduct any more?

[joshh0]

Turbotax has my vehicle listed and fully depreciated as an Asset for 2017, when I purchased the vehicle.  But it also has the vehicle listed under the Vehicles section, and seems to want me to input actual expenses. Since I already fully depreciated the vehicle last year through Section 179, it seems as though I should not go after any further deductions pertaining to it.  However, I'd still like to deduct gas expenses, and not sure how to do that if I remove the vehicle from the Vehicles section, and keep it under the Assets section only.

[Coleen3]

When you take actual expenses, depreciation is only one of the deductions. You can also take gas, repairs, insurance, etc. These expenses are listed under vehicle.

[joshh0]

Thanks for the speedy reply! However, I have inputted just $4800 in operating expenses, and the Vehicle Expenses section is still giving me a $12,000 deduction. I am guessing that it does not recognize that this is the same vehicle that has already been fully depreciated under the Assets section... Not sure how to sync them up.  An addendum to this is that it does not seem that i should be inputting vehicle mileage at all since the vehicle has been fully depreciated as an Asset already.

[joshh0]

...TT is telling me in the Vehicle Expense section that "Because I transferred this vehicle from my 2017 return, we have enough information to calculate your 2018 federal depreciation."

[Coleen3]

Before you put in the expenses, what did you have for the vehicle carried over from last year?

[Coleen3]

Hmmm. Are you sure you took Section 179 last year for the entire cost?

[joshh0]

Maybe not. Last year I plugged it in as a Type G Asset, which was simply for "General Purpose Machinery"... So I'm thinking it may not have registered properly as the same vehicle being discussed in the Vehicles section?  But under Assets in 2017, it shows my purchase price of $21460 under the Section 179 column, with a Placed in Service date of 06/03/2017. Would it not fully depreciate since the service date was halfway through the year?  That may explain why it is giving me a $12,000 deduction under Vehicle Expenses, even though I only have $4800 in actual expenses entered.

Not sure where I should look to see what I have for the vehicle carried over from last year...

[Coleen3]

"General Purpose Machinery"-no. You will have to amend 2017. It is a vehicle under 6000lbs.