ThomasM125
Expert Alumni

Deductions & credits

I think what you mean is you entered a business vehicle on your 2019 tax return and deducted $18,000 of depreciation by taking section 179 or bonus depreciation. If so, you may have additional depreciation to take in 2020 if the vehicle cost more than $18,000. You should have entered the full cost of the vehicle in 2019.

 

The depreciation in 2020 could be left-over section 179 from 2019, but is sounds like you took the full amount allowed in 2019. If so, then there would be additional depreciation that TurboTax would automatically enter on your tax return in 2020, but it would be less than the $18,000 amount.

 

You can only take section 179 or bonus depreciation in the year you purchase the vehicle. The amount allowed in that year may not all be used in that year, based on your business income, so you may have some carryover to future years.

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