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mcmullens
New Member

How do I decrease the amount of depreciation allowed for a vehicle in Schedule C?

Why is Schedule C depreciation allowed too large?
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3 Replies
Carl
Level 15

How do I decrease the amount of depreciation allowed for a vehicle in Schedule C?

You can't and you don't. You're required by law to depreciate all business assets used in the production of income. If you think it's to large, then work back through the entire Business Vehicle Expenses section again. Chances are, you entered some incorrect figures.

 

Anonymous
Not applicable

How do I decrease the amount of depreciation allowed for a vehicle in Schedule C?

did you acquire the vehicle in 2019?  if so there may be some options to reduce the depreciation deduction? 

examples, opting out of bonus and/or section 179

How do I decrease the amount of depreciation allowed for a vehicle in Schedule C?

Are you getting that message because you sold the vehicle?

 

TurboTax can NOT calculate the sale of a vehicle (or other asset) that the business percentage varied from year to year.  You need to either (a) manually calculate things and enter the information in the "Sale of Business Property" section or (b) go to a tax professional.

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