No. TurboTax will do the calculations based on how you answer the questions.
To clarify one thing about what you are allowed to do with your vehicle expenses and choices:
- If you use the actual expenses the first year you place a vehicle in service for business you can never use the standard mileage rate for that vehicle.
- If you use the standard mileage rate the first year a vehicle is placed in service you can alternate each year to use the standard mileage rate or actual expenses, whichever is best.
Both of our amazing Tax Experts @MayaD and @ErnieS0 pointed this out however I wanted to be sure you clearly understood your options.
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