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Deductions & credits
Thanks!
I've seen elsewhere that a car should only be depreciated on one Schedule C - do you agree? If it's depreciated across multiple businesses, though, neither business will have >50% business use of the car, so no bonus/special depreciation would be available and the 5-year SL schedule is used, or do we just override TurboTax to calculate the depreciation ourselves since the overall vehicle use is >50% business?
‎June 14, 2021
9:40 AM