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Get your taxes done using TurboTax
- I never understood the Form 4562 - Depreciation and Amortization Report (landscape form that shows the biz use % of the car and 0 depreciation - that Turbotax generates in the past years whenever I use the standard mileage method). Can you explain the intent of this form even though there's no depreciation?
- If I use the Actual Expenses method in year 2 (and depreciation kicks in) and in year 3, I go back to Standard Mileage, does it mean that depreciation stops for 1 year? Then when I use Actual Expense method in year 4, then depreciation resumes again? Does it resume from year 2 when I last depreciated the vehicle?
‎April 2, 2025
1:32 PM