Seeking clarification: Specific steps to trigger the $20,200 (280F) Luxury Auto Limit in TurboTax for 2025
The previous response mentions navigating to Schedule C > Business Expenses, but it doesn't address the specific technical "hang-up" I'm finding regarding the $20,200 first-year depreciation limit.
Under IRS Revenue Procedure 2025-16, the first-year depreciation limit for a passenger automobile (under 6,000 lbs GVWR) placed in service in 2025 is $20,200 if bonus depreciation is claimed (otherwise it is $12,200).
The issue: When I enter my vehicle details under "Actual Expenses," the program is not clearly presenting the election for the additional $8,000 bonus depreciation that reaches that $20,200 cap.
Can someone confirm the following technical steps?
Vehicle Weight: Does the program only trigger this cap if the vehicle is categorized as a "Passenger Car" (under 6,000 lbs)?
The "Special Depreciation" Screen: Where exactly is the screen to elect the "Special Depreciation Allowance"? Is it found within the "Vehicle" interview or must I go to the "Assets/Depreciation" section separately to manually enter the vehicle as a 5-year asset?
One Big Beautiful Bill Act (OBBBA) Impact: Since bonus depreciation was restored to 100% for assets acquired after January 19, 2025, is TurboTax 2025 updated to handle this change automatically based on the "Date Placed in Service"?
I am using the vehicle 100% for business, so I should qualify for the full amount. Any guidance on which specific screen "forces" the program to apply the $8,000 bonus on top of the $12,200 base limit would be greatly appreciated.
