vehicle expenses

[out ofbounds]

This year for some reason after all new info is entered I get zero deductions on all vehicles for my business. Even a brand new one purchased in 2022. Am I missing something?

[AnnetteB6]

The only thing that comes to mind is that perhaps you missed entering the mileage for the vehicles.  The total miles, business miles, and commuting miles must be entered for each vehicle whether you are claiming the standard mileage deduction or actual expenses.  Revisit the vehicle expense section to be sure that all the mileage information was entered.

[out of bounds]

Thanks for your response I entered 0 in blank boxes and now I am getting deductions. 

[imnotrod]

Annette,

Can I pester you a minute?  Schedule C, bought a new dump truck for hire.  Can't enter it in assets as they dont have a vehicle choice for description, and in "vehicle expenses" portion, I cannot figure out hot to tell it is for hire, and get to where I can depreciate it.  I do see where you say even if you are going actual expense ( which I must ) you have to enter mileage, but I'm still too dumb to find where to enter purchase data for depreciation.  Would you please spend a minute on me to set me in the right direction.  Thanks in advance for your consideration.  And, "no" will not hurt my feeling 🙂  Meantime, I'll keep searching this wonderful forum tool.

Kenneth

[AnnetteB6 · Accepted solution]

While in your Schedule C, go to the Business Vehicle Expense section and enter the information for your dump truck just as you would if you were entering information for using your personal car for your business.  One of the early screens in this section is the business, personal, and commuting miles page.  Enter the miles for the dump truck and continue moving forward.

After the miles have been entered, you will see the question about checking to see if actual expenses would be more beneficial.  Check the box for actual expenses and keep going.  

As you go through this section to enter the actual expenses, there will be a question asking if the vehicle was used for hire.  After that question, just keep going through the screens and you will be asked whether you purchased the vehicle new, was it part of a trade-in, etc.  

Finally, there will be a place to enter the cost and purchase date.  You will also see the option to use Section 179 instead of depreciating the vehicle.  To opt for depreciation, just leave the Section 179 box blank.

@imnotrod 

[imnotrod]

Annette,

You are amazing.  I guess I just got a little scared and didn't want to continue through when my brain told me "noooo".  I appreciate you being here, your time and knowledge... and for explaining things concise and simple to follow and understand.  Dropping $27k off the tax bill, priceless : )

Humbly,

Kenneth