3161961
I use my car for business 100% of the time. I want to write off my expenses (gas, insurance, registration, etc)...but I do NOT want to take the depreciation. In Turbo Tax, I can't find a way to NOT take the depreciation. Even with I go to the actual forms, I can't figure out how to only take expenses and NOT depreciate the car using Turbo Tax. The fields I would need to make "0" are not editable.
Any help would be greatly appreciated it.
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To avoid including depreciation in the vehicle expense calculation, enter a zero value for the fair market value of the vehicle on the date you first started using it for your business. There is no depreciation calculated on a vehicle with zero value. But you'll still be able to claim your actual expenses.
There is no fair market value button on the form
When you entered to use your actual expenses, you will come to a screen that states, "Let's figure out the value of your vehicle". You can enter $0 at this screen. (See Screenshot below)
Putting zero car value for car and taking off end of year, the system is creating a 4797. How do I avoid this?
Form 4797 just shows the sale of business property. If it is a zero then the form shouldn't be adding anything to your taxes, just reporting the sale. That should be fine.
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