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Can I claim either the special depreciation or Section 179 deduction for a new van that I purchased for business (50% use) for 2021?
I purchased a van in 2021 and use it 50% of the time for business use. I purchased the Turbotax Premier and am reporting this business on Schedule C. Can I claim the special depreciation or Section 179 for the purchase of this vehicle? If so, can you please advise on how I can add it? For now, I added the vehicle under the "cars, trucks, and other vehicle expenses" section and it is not calculating the special depreciation or giving me an option to claim the Section 179 deduction. Thank you!
‎April 18, 2022
9:39 AM