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Deductions & credits
@bge3rd You need to choose the mileage or actual expenses method in the year you place the vehicle in service. So, in the next year the program will automatically default to the same method chosen originally. If you took the actual expenses in the first year and TurboTax is defaulting to the mileage method in the second year, I suggest you make note of the cost, accumulated depreciation, special depreciation allowances taken, date the vehicle was put into service and any other pertinent information regarding the vehicle, and then delete the vehicle and re-enter it in the current year. You will be asked to enter the pertinent information to allow for the vehicle to be properly recorded and depreciated going forward.
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‎January 26, 2022
3:43 PM