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Get your taxes done using TurboTax
Thanks Ernie. I did try removing the vehicle and adding it back in but it kept calculating my vehicle business use percentage at 34.54%. It never allowed me to modify the percentage and that number is strange since it was never 34.54% in any year. I calculated what the correct overall percentage should have been and then modified the purchase price of the vehicle so it would arrive at the correct end result. It's unfortunate that I had to do manipulated the formula this way but in the end I have the correct result so the actual tax implications are correct. If I ever need to, I can prove that my math is correct and I've saved all my equations on a spreadsheet which I will keep with my records for this year.
March 28, 2021
10:53 AM