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Deductions & credits
To clarify, what was your business use percentage? Was it used 100% business use or was it also available for personal use?
What is the 109-NEC reporting? Something in relation to the car or just self-employment income?
When you use the Standard Mileage rate, depreciation is build-in to the rate. TurboTax can't figure it, you need to multiply the miles claimed by the "Depreciation Equivalent" for that year.
2022 it was .26 per mile
2023 it was .28 per mile
2024 it was .30 per mile
You'll also need to take your cost and multiply that cost by your business percentage.
This would have been the value of the vehicle that you used when you placed the vehicle into service.
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March 9, 2025
6:15 AM