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You have to enter the truck as an asset first.Then, you can take a "Section 179" deduction which allows you to depreciate the entire truck (if you have at least $4,500 of taxable income from the business). It turns out the same as an expense, a deduction for the entire $4,500. The Section 179 deduction is limited to the taxable income of your business, the remaining deduction carries forward to the next year.
Here are the list of steps to take in TurboTax Online Self Employment to get to the Section 179 deduction, with your tax return open, click on Federal Taxes in the black bar on the left
a 2010 dump truck were purchased for $13,000 how this truck should be entered on a 1040 if the taxpayer runs a construction self-employed on schedule C?
Report the 2010 dump truck as an Vehicle under the self-employment activity.
Go to Federal / Income & Expenses / Your income and expenses / Self-employment income and expenses.
Click Edit / Add / Start to the right.
Click Edit / Add / Start to the right of Vehicle.
Click Add another vehicle.
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