Hi,
Here is an article from TurboTax giving more information about the depreciation deductions for vehicles in 2023. Scroll down to the area that indicates: "luxury autos."
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh
Below is an IRS article showing what types of vehicles are eligible for EV credits:
https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after#:~:...
This link shows which cars are eligible for the EV tax credits in 2023:
https://www.cnet.com/roadshow/news/the-ev-tax-credit-2023-does-your-car-qualifies-for-the-7500-tax-b...
You will enter the vehicle in TurboTax in the self-employment income section, then there will be an area where you can answer questions related to the vehicles.
You can also add assets within the self-employment income section, for other assets that have bonus depreciation.
Call 1-800-446-8848 if you need further assistance with entering vehicle information and mileage.
Thank you,
John
CPA
