@PatriciaV / @Mike9241:
I connected over the phone with a TurboTax Expert a few days ago and she advised me to take just the regular depreciation. She told me to leave line #34 blank (bypassing my ability to utilize section 179 now or even in the future on this vehicle). She also said to mark "no" on taking the special depreciation.
Doing the above appeared to "increase/maximize" how much I'd pay in taxes compared to entering $30,500 into line #34 (sect 179) and checking the box "yes" for taking the special depreciation. There's a huge difference of over $14k in taxes I'd pay or get back.
Either entry would pass the form review and allow me to complete my e-filing, but which is right? I don't want to pay more taxes than I have to, but also don't have the time to waste getting audited unnecessarily. Please advise.
