topic Special depreciation in Get your taxes done using TurboTax

Special depreciation

Salibakamal — Mon, 23 Feb 2026 10:14:49 GMT

I purchased a boat and a truck in 2022 for the purpose of renting the boat out. The truck is used to deliver the boat to clients. I am planning to use special depreciation for both. That will put me at a significant loss which I plan to use to overcome w 2 income. Turbotax allows me to do so but wanted to confirm with you that I am okay doing so.

Re: Special depreciation

DaveF1006 — Wed, 25 Jan 2023 17:25:26 GMT

Yes, you are permitted to use special depreciation for your boat and truck as these are considered qualified business property. Keep in mind, in order to claim bonus depreciation , the truck and boat business use must be used for business at least 50% of the time.

According to the IRS rules, you may claim 100% depreciation if:

The taxpayer or its predecessor didn’t use the property at any time before acquiring it.
The taxpayer didn’t acquire the property from a related party.
The taxpayer didn’t acquire the property from a component member of a controlled group of corporations.
The taxpayer’s basis of the used property is not figured in whole or in part by reference to the adjusted basis of the property in the hands of the seller or transferor.
The taxpayer’s basis of the used property is not figured under the provision for deciding basis of property acquired from a decedent.
Also, the cost of the used property eligible for bonus depreciation doesn’t include the basis of property determined by reference to the basis of other property held at any time by the taxpayer (for example, in a like-kind exchange or involuntary conversion).

Re: Special depreciation

Salibakamal — Wed, 25 Jan 2023 18:14:45 GMT

Thank you so much, that is very helpful. If I keep records of the miles on an Excel sheet, this would be enough to show that truck is used for business at least 50% of the time?

Re: Special depreciation

DaveF1006 — Wed, 25 Jan 2023 18:22:57 GMT

Yes, it is best to document this carefully to allocate business/personal use of this property just in case if it is examined by the IRS.

Re: Special depreciation

Ksaliba — Wed, 01 Feb 2023 21:03:24 GMT

When I try to enter the depreciation of the truck turbotax asks me questions and then allows me to take a special depreciation up to a certain amount ( close to like 26000 or so). Why would it not let me take the full amount? It allows me to take a full amount when I depreciate the boat on the other hand as I enter it separately under asset depreciation

Re: Special depreciation

KrisD15 — Wed, 01 Feb 2023 21:37:58 GMT

In addition to the information posted above,

According to the IRS:

“Also, the maximum section 179 expense deduction for sport utility vehicles (SUVs) placed in service in tax years beginning in 2022 is $27,000.”

@Ksaliba