Schedule c line 69 recovery period what does this mean
its for a vehicle, what does recovery period mean?
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1 Best answer
DDollar
Expert Alumni
Jun 6, 2019 3:32:27 AM
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.
2 Replies
DDollar
Expert Alumni
Jun 6, 2019 3:32:27 AM
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.
dandmtowing
New Member
Jun 6, 2019 3:32:28 AM
Thank you much, the vehicle was given to me by my father, I wrote $0 as purchase price, but then at the end it showed I needed to fill in, thank you again.