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Level 1
June 6, 2019
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Turbo tax is asking me how much did i pay for my business vehicle Semitruck, do i put how much i have paid to date or what the finance loan payed total for the vehicle?

  • June 6, 2019
  • 1 reply
  • 10 views

ex:

OK. Let's figure out the value of your 2012 kenworth t660 for depreciation basis.

Turbo tax is asking me how much did i pay for my business vehicle Semitruck, do i put how much i have paid to date or what the finance loan payed total for the vehicle?

i have paid around 15000$ i owe 30000$, do i put the total amount where its asking  me how much i paid for the vehicle (45000)? or only 15000 ?

Best answer by AnnetteB6

You would use the total that was paid for the vehicle -- $45,000 from your example.

1 reply

AnnetteB6Answer
Level 15
June 6, 2019

You would use the total that was paid for the vehicle -- $45,000 from your example.

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