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Business & farm
Yes. As you walk through the business income and expense section, you will be able to enter your vehicle expenses. TurboTax will take you through the steps and ask you if you want to use the standard mileage deduction or actual expense. In the actual expense method, you will be given the chance to decide how you want to depreciate your SUV. You will need to work through prorating the SUV as you can only deduct the parts that are related to business. You cannot deduct any part that is only related to personal use.
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‎April 11, 2024
10:01 AM