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Business Automobile Depreciation
Good day. I purchased a new car during 2023 (approx $81,000) expecting that depreciation would be at high levels for the five years. My first year 179/bonus depreciation for tax year 2023 (with 86% business use) was $17,691. I'm working on 2024 Turbotax now and it indicates depreciation for 2024 (with 85% business use) would be $3,375. Much lower than I expected. Am I or TT doing something wrong? Thank you.
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‎April 5, 2025
9:53 AM