Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
mayur87
New Member

Sch C Wks (DELIVERY) -- Car & Truck Expenses Worksheet (TOYOTA COROLA): Recovery period-1 must be entered. what does it means?

 
1 Reply
Cindy0H
New Member

Sch C Wks (DELIVERY) -- Car & Truck Expenses Worksheet (TOYOTA COROLA): Recovery period-1 must be entered. what does it means?

The "recovery period" refers to how long you are depreciating the asset.  If it is a vehicle, you would depreciate it over five years.  This would show up (or be entered as) 60 (months) on line 69 of the Car and Truck Expense Worksheet.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~