vehicle expenses

[fahedz]

I am trying to enter a new truck I lease for business in the vehicle summary of one of my rental properties, i try to use actual expenses but TT defaults to mileage based even though this is the first time I enter it.

Moreover, in the forms based, the calculation of business use percentage TT calculates business use percentage wrong, dividing lines 6 by 5c is entering a very far and wrong answer

[AmeliesUncle]

The last I saw (which as been quite a while, so it may have changed), you enter the information based on calculating the Standard Mileage Rate and it tells you the amount, then it asks if you want to try to enter Actual Expenses to see if it is better.  Is it not asking that?

For the business percentage, go back through the questions and look for the one that ask if you kept track of personal miles.  Say YES to that question.

[fahedz]

I am answering yes, but it only gives me a screen to enter registration portion, tolls, and interest paid. But my vehicle is a leased vehicle, I need to enter more information related to the lease expenses, drive off, etc... and TT never gives me that window 

[AmeliesUncle]

And this is the first year you placed it in service?

If so, unfortunately, I'm not sure why it isn't asking you for that, other than that it is still early in the tax season and there tends to be a lot of bugs and incomplete sections in the program.  Personally, I would just wait another couple of weeks, but maybe someone else will come along with another suggestion.

If this isn't the first year it was placed in service, go back and look through the questions for the one that asks if you previously used the Standard Mileage Rate, and make sure you said no to that.

[fahedz]

same result

[fahedz]

it is first year used in service, leased in 2025 and I am answering correctly. There is a TT bug IMO. Please look into it

[AmeliesUncle]

I agree that it probably is a bug that you need to wait for to be fixed. 

However, this is just a user-to-user forum.  I do not work for Intuit, so I can not "look into it" for you.  

[fahedz]

Sorry 🙂 it has been a while since I used the forum.

I went to the forms mode and I entered the values properly in the form. It calculated properly. But still in the step by step it was still not showing the values though TT took the numbers into account