@PatriciaV
First… thank you so much for looking at this for me.
It took a bit before I could truly dive into your response and open all three years of taxes to see if I could understand your notes.
- Is Turbo live the help screen you suggest the one they are currently offering for $50 under advantage program and would that involve helping with this 2023 error?
- Since I qualified for Special Depreciation in 2022 upon first purchase, why would TT not have copied over the correct amount written off in 2022 to 2023? I let the software do this automatically (which it even tells you something like “we have enough information from your 2022 return to carry over depreciation”). We qualified for $16,518 first year (2022) under the special allowance version of a $30,800 purchase. Why would TT have copied over an amount less than that causing this error in 2023?
- Everyone on the help boards 2022 said whatever you can’t write off year 1 carries over. So the $9365 did not seem wrong to me in 2023. I assumed that was what was leftover after the year 1 was limited. What I wasn’t sure was would the final amount be spread out over years 2-5 or taken as a lump in year 2 since it wasn’t a huge amount. (Like for those who buy 100k vehicles it has to get spread out because of yearly limits. I thought since our car was cheaper, maybe that’s why it put the whole amount left in year 2.)
- What I was NOT expecting was there to be anything left for this year 2024, which is what led me here to ask since this year’s amount tipped it over the cost of the car. But last year’s did not. And came pretty close to a % of purchase that made sense. I expected a balance write off of approx. $9900 to be left after year 1 so the $9365 didn’t seem weird to me in year 2 (esp because each year the % based on mileage isn’t going to be identical).
- Since my 2024 taxes are about finished and almost all entries are in… if I did correct 2023, how will it get the right information from that form into this year’s taxes, without starting over on a new import from 2023?
Thank you for trying to help me sort through this so I can decide next steps, including potentially singing up for help as you suggest.
Thanks!
