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Get your taxes done using TurboTax
On Line 36a on the Asset Entry Worksheet for your vehicle, 'Yes' refers to the Economic Stimulus box above, so N/A is appropriate.
Special depreciation is an extra allowance that you can take the first year a property depreciated under the MACRS method is placed in service. You can only take that the first year the vehicle is put in service, and if you purchased the vehicle new, so it wouldn't appear on more than one tax return.
Go back to the Vehicle Asset Interview section and step through the questions again. If you are adding a new vehicle for the first time this year, you'll get that option as a choice for depreciation.
Here's more info on Using a Vehicle for Business.

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‎February 23, 2024
12:12 PM