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Deductions & credits
TurboTax is telling me, in the Calculate Depreciation Equivalent part, to "Enter the depreciation equivalent of your standard mileage deduction for the years before 2021 (we'll compute the 2021 amount for you.) When I click Learn More, it says, "To determine the amount to enter for depreciation, multiply your business mileage for each year that you used the standard mileage rate by the amounts below." And it gives me a table to use to calculate that depreciation.
Isn't this saying that part of the standard mileage deduction was depreciation?
‎April 18, 2022
7:29 PM