3574426
During Federal Review, I got an error message that I don't know where it comes from. Please help
You'll need to sign in or create an account to connect with an expert.
I look the earlier part of the worksheet on vehicle depreciation. Here is what it showed:
The depreciation deduction should be 1392 not 18939! How can I correct that?
There is difficulty due to the nature of the varied business use of a vehicle. It's most important to sell the vehicle outside of the rental activity because of the varied percentage of business use which is based on miles.
This vehicle can be taken out of service using the steps provided. When reviewing your vehicle information be sure to select 'Your percentage of business use of the vehicle varied over the years.' Next select Yes 'Did you convert the asset to nonbusiness use?' This should eliminate any sales questions inside the vehicle asset.
Open your TurboTax Desktop return
Next: Total all of the business miles for the life of the vehicle
Next enter your Sale of Business Property for the business portion using the business use percentage above
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ychenxx
Returning Member
christineliew16
New Member
bre218
Level 2