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Deductions & credits
Section 179 deduction may only be claimed on an asset that is more than 50% business use.
It seems to me that when you enter a new vehicle, the program asks for mileage driven, business, total miles, and miles for commuting.
I think it is easy to over-look this screen if you plan to use actual expenses, HOWEVER the programs uses the percentage of business to personal mile to determine if the vehicle is used more than 50%.
Please go back through the interview of adding the vehicle and check the number of miles you entered.
@kuber1
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March 29, 2024
4:55 PM