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dolly620
Returning Member

Depreciation allowed or allowable is too large..how do i fix this? I took a vehicle out for personal use. shouldn't the amount of depreciation i took be taxable.

I no longer have my schedule C.  I showed my assets being disposed of on 1/1/2018.  It keeps telling me my depreciation or depreciation allowed it too high.  I can't fix this.  I thought if i did an override on line 71 it would fix it but i have one for a vehicle and it won't let me override this.  I did do an override on the other assets for this line and it worked.  Shouldn't the amount i took as depreciation in previous years be income this year?

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1 Reply

Depreciation allowed or allowable is too large..how do i fix this? I took a vehicle out for personal use. shouldn't the amount of depreciation i took be taxable.

There has been a change on the total allowable deduction this year.  I believe it is 10,000 this year but you might want to verify this in turbo tax.

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