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Where do you go in turbotax to enter section 179 deduction for truck for schedule C / sole proprietor business?

Good day where do you go in turbotax to enter section 179 deduction for truck for schedule C / sole prop business? Truck is over 6000 lbs

 

I have home and business

 

When I go into Business Expenses under Business Vehicle Expenses it keeps wanting me to take standard mileage deduction

 

When I go to Business Assets I see:

Computer Video Photo and Telephone Equipment

Tools Machinery Equipment Furniture

Real Estate

Intangible Other Property

 

I don't see vehicles or anything there.

 

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Where do you go in turbotax to enter section 179 deduction for truck for schedule C / sole proprietor business?

You have to enter the truck in the Business Vehicle Expense section.

 

Continue through the screens and ensure that you checked the box in the screenshot below.

 

Untitled.png

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2 Replies

Where do you go in turbotax to enter section 179 deduction for truck for schedule C / sole proprietor business?

You have to enter the truck in the Business Vehicle Expense section.

 

Continue through the screens and ensure that you checked the box in the screenshot below.

 

Untitled.png

Where do you go in turbotax to enter section 179 deduction for truck for schedule C / sole proprietor business?

You have the choice in the year the vehicle is placed in service to take the standard mileage rate  OR  the actual expenses + depreciation and/or 179 deduction (currently there is a 100% bonus depreciation which is better than the 179 deduction ... 1check both ways to make an educated choice).

 

Note that if you take the standard mileage rate you can flip flop between the  options in the following years  HOWEVER if you start with the actual expenses option  you are STUCK with that option until you retire that vehicle. 

 

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