Business auto Depreciation

[mhr1]

Regarding auto depreciation for business,

I reach section "Describe This Asset" but see no button option that includes mention of auto. Am I in the wrong section?

[AnnetteB6]

Yes, you seem to be in the wrong section.

To enter business vehicle expenses for Schedule C, look for the section labeled Business Vehicle Expense.  You will see questions in that section related to the type of vehicle that you have, the miles that you drove for the year and for business purposes, and the option to choose between using the standard mileage deduction or actual expenses.  If you choose actual expenses, then you should see questions regarding depreciating the vehicle.

[mhr1]

Thanks for reply. Can you please send instructions on how to navigate to this section? "Business Vehicle Expense"

[AliciaP1 · Accepted solution]

It depends on whether you are using TurboTax Online or TurboTax Home & Business.

To enter Vehicle expense in TurboTax Online you can follow these steps:

1. Within your tax return use the magnifying glass icon to search for Schedule C
2. Click the Jump to link
3. Click Edit for the line of work
4. Scroll down to Expenses and click Start or Edit if the category you want is shown
   • If you don't see the category you want listed click Add expenses for this work
   • Scroll to and mark the box for the category of expense you want to add - if you don't see it on the list, scroll down to the Less Common section and click the down arrow and show more until you do
   • Click Continue
5. Enter your expenses either as totals for each category or you can list out the different items (ie. email, website, etc.)

To do this in TurboTax Home & Business please follow these steps:

1. Within your tax return under the Business tab click Continue and I'll choose what I work on
2. Click Update for Business Income and Expenses
3. Click Edit for the business the vehicle is for
4. Scroll down and click Start for Business Vehicle Expense
5. Answer the questions about your vehicle and its purchase

@mhr1