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Deductions & credits
Thank you very much.
How do I dedcut depreciation for 2020?
In the business assets, the car is not showing as an asset. (I might have entered it incorrectly for 2019, not sure).
However, when I enter the gasoline etc expenses, the total deduction comes up to be exactly to the sum of these with no extra depreciation expense.
Bought the car for $37K in 2019. Would like to complete depreciation by 2020, i.e take advantage of depreciation this year.
How do I do that?
Can you please help?
Many thanks in advance
‎February 8, 2021
11:37 AM