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Vehicle Depreciation
I have a vehicle that was put into use in 2018. The full cost was taken as a "Special Depreciation Allowance" that same year. There should be no current depreciation. BUT, when I try to enter this information into TurboTax Business it will no calculate correctly. It keeps coming up with Section 179 for the entire cost, plus a special depreciation of an additional amount, resulting in accumulation depreciation of more than the truck was purchased for. I put no amounts in the the section 179 box or the special depreciation allowance box. I cannot figure this one out.
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ā€ˇFebruary 12, 2021
12:55 PM