- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Please revisit the mileage screen and enter the total miles driven, business miles, and personal use miles.
TurboTax uses this information to determine the percentage of business use.
I ASSUME you may not be entering the number of miles for 2024 to show an 80% business use.
For example, the vehicle was valued 54,500 new, with a five year life which comes out to 10,900 per year potential depreciation.
Using the vehicle 80% business would be 8,720 per year which is reflected in your "re-do" of the first year with no bonus depreciation.
Again, please verify that the program is allowing 80% business use.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 14, 2025
9:32 AM