topic For my %100 buisness use vehicle, am I putting the full financed amount (when I financed under buisness) or am I putting the amount still owed at end of the year? in Get your taxes done using TurboTax

For my %100 buisness use vehicle, am I putting the full financed amount (when I financed under buisness) or am I putting the amount still owed at end of the year?

biggpj09 — Tue, 24 Feb 2026 07:06:12 GMT

%100 buisness vehicle
Cargo van freight delivery
%0 personal use
Financed monthly payments

Re: For my %100 buisness use vehicle, am I putting the full financed amount (when I financed under buisness) or am I putting the amount still owed at end of the year?

Critter-3 — Tue, 22 Aug 2023 16:56:11 GMT

When entering the asset for depreciation purposes you enter the TOTAL cost basis when purchased. Then you will also get to deduct the interest paid on the loan.