topic Re: Schedule C in After you file

Schedule C

sc67 — Tue, 24 Feb 2026 07:42:13 GMT

Not understanding what the Depr allowed or allowable means? Says an amount must be entered. I have no clue what amount to enter. I have had the vechicle since the start of my business in 2017. This is what's stumping me from finishing my taxes

Re: Schedule C

Anonymous_ — Tue, 17 Oct 2023 00:23:49 GMT

Depreciation deductions you actually took (in past tax years) or could have (should have) taken.

Did you use actual expenses or the standard mileage rate?

See https://www.irs.gov/taxtopics/tc510

Re: Schedule C

fanfare — Tue, 17 Oct 2023 02:26:00 GMT

you had the car but was it in service for your business since 2017?

If you did not list it as a business asset before, don't start now.

@sc67

Re: Schedule C

VolvoGirl — Tue, 17 Oct 2023 02:29:12 GMT

Did you sell or dispose of the vehicle?