elderblaze
Returning Member

Get your taxes done using TurboTax

Thanks for all your help, I have the 2019 and 2020 tax documents, but it looks like something strange is going on. I have a difficult time telling if my preparer used "Actual Expenses" or "Standard Milage Deduction" for my main company vehicle. If I look at form 4562, I see the Asset listed "Truck" with 100% company use, and no information about depreciation selected. I see the milage information, but no clues to if "Standard deduction" was used for milage, just documented miles driven.. If it is allowed I will attach an image that has no personal information of the section that is so confusing. Is it possible that a vehicle is depreciated as a piece of equipment instead of a vehicle? why would it be done this way?

 

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