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Bonus Depreciation Auto Under 6000 lbs
I bought a car for my business in October 2019. When I choose actual expense method, TurboTax does not give me the screen to enter a bonus depreciation amount. I was playing around with it to see why, and it appears that the date is screwing it up. If I say that I bought the vehicle in may, then the screen for bonus depreciation is available. From what I have read online, I can deduct up to $18k the first year, and I don't see any date restrictions. Can anyone help?
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‎July 8, 2020
3:30 PM