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Get your taxes done using TurboTax
You should fill it out. The S-corp can use actual expenses or mileage and the TurboTax program will figure out which one is better for you. And, as you pointed out, the percentage of business use component is solved by the mileage as well.
You won't use the depreciation forms anymore after this year but they may still be included in the return next year. They'd just have zeros on them. The system will not try to take another deduction after the car is fully depreciated. And your auto expenses/mileage would still be viable deductions even after the car is fully depreciated.
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March 12, 2025
10:16 AM
1,837 Views