This is our first year using TurboTax. We keep track of business miles and write a reimbursement check from business funds at the end of the year. In the past, our accountant put that amount on line 9 (Car and Truck Expenses) and left Part IV (Info on Your Vehicle) blank. During TurboTax Review the program is asking for a date vehicle was placed in service. Do I need to fill this out? If this vehicle has been used in prior years and I need to fill in Part IV, what date should I use? Thanks
Enter the date you first started using the Vehicle for Business. Your accountant should provide a Vehicle Expenses Worksheet, relating to the amount on Line 9 on your Schedule C.
Even if you use the Standard Mileage Deduction, depreciation is a factor when you sell or trade-in the vehicle, so you need to know your original Cost Basis, and % of Business Use, which is on the worksheet.
Here's detailed info on Using a Vehicle for Business.
If you know when you originally purchased the vehicle and started using it for your business, then that is the date that you should enter. Without entering that information, the error message cannot be cleared.
You can go through your previous tax returns to see when it was first reported either on Form 4562 or on Schedule C to determine the date it was first used for business.