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Get your taxes done using TurboTax
How do I let TurboTax know that the car was previously depreciated?
Car was purchased in 2014. I used it for business from then until Jan 2021. I entered prior depreciation equivalent based on standard mileage rate on my return.
Now my husband starting using this car in Jan 2021 for business (using actual expenses). On his return, I went into the car worksheet and entered that prior depreciation number in line 37 but TT is flagging it as an error. What am I doing wrong?
Where it asks for the day you became owner (my husband) of this vehicle are we entering the date of purchase (2014) or 1/8/21, the day he began business use?
March 24, 2022
6:32 AM