JeffreyR77
Expert Alumni

Business & farm

TurboTax is showing $11,039 in depreciation was deducted in 2019.  You can verify by looking  at your 2019 tax return and Form 4562 will show the amount of either Section 179 depreciation (line 7 or 12) or Special Depreciation (Page 2, Part V, Line 25) that was claimed for your vehicle.  The program believes the asset was 100% depreciated with accelerated depreciation available last year.

 

If there is still basis (value) for this vehicle that can be depreciated, you may need to add a second  asset in the 2020 program and with the remaining basis and depreciate it using regular MACRS..