How do I elect a section 179 deduction for a vehicle purchased in 2017 in Turbo Tax Home & Business?

[Dodgei]

VolvoGirl,

Thank you for that info; I did notice someone asking a 2015 question in 2019. Ultimately, What your telling me, is that there is no way to get real time help from this product. But also, I'm noticing that you and others like you are not even employees or are you?

Because, if I'm getting answers by users then I'm done with this product.  

[VolvoGirl]

Yes most of us here are other users.  Sometimes an employee will answer.  It will say employee by their name or Moderator, etc.  

You can get help for different years.  Have you updated your program?  Go to Online - Check for Updates.

Or Contact Customer Service
5am-5pm Pacific Time (8-8 Eastern) Monday - Friday
https://support.turbotax.intuit.com/contact/

What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

[DoninGA]

@Dodgei 

You may want to delete the vehicle and re-enter.

Using TurboTax 2017 Premier edition I entered a vehicle using the actual expense method and the Form 4562 has the section 179 amount calculated.

Vehicle Purchase price $50000  Placed in service 01/01/2017  100% Business Usage

Form 4562 Line 26 Elected Section 179 cost - $11,560

Schedule C Line 13 Depreciation and Sec 179 expense deduction - $11,560

[Dodgei]

Wow this person is correct,

-hickmanjb- 

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/does-anyone-know-where-to-put-in...

Competently  a Clich! 

I'm switching to H&R Block. I should charge Turbotax for this. I've spent over 6 hours on this topic

The person who answered Hickmanjn didn't even got back to him in confirmation or apology. People who answer question on this forum don't have the autonomy to be responsible for their answer because they are not payed. 

So upset now; what am I Paying for! 

Are all of my taxes done wrong now?

[Dodgei]

DoninGA

Thank you Donin,

Shouldn't have to enter Jan first.

[taxnewbie24]

I have had this issue before with TurboTax and think that I have finally figured it out....at least for 2019. Your version of TurboTax matters. I used Deluxe 2019 and was not given the option for the 179 election. I switched to Home and Business 2019 and was given the option when you enter the cost like the person said above. BUT...I had to delete the vehicle asset that I created in Deluxe because it still would not give me that option in Home and Business for the vehicle that I created in Deluxe. So, I deleted and reentered the same vehicle and it then gave me the option. I hope this helps someone because it was driving me crazy as well. I am not sure about the other versions. 

[Galateanu]

I am having the same issue. Is there away you can send me the screen shot that shows where to enter the depreciation?

thanks 

[Irene2805]

Section 179 is a depreciation option you can take when you first place an asset in service.   To enter your business vehicle, and calculate the 179 deduction, please follow these steps:

TurboTax CD/Download

1. Click on the Business tab > Continue > I'll choose what to work on
2. In the Business Expenses section, click the Start/Update button. 
3. If you have already started adding information about your business, you will see the screen Here’s the business info we have so far.  Click on the Edit box next to the business. 
4. If you haven't already started adding business information, continue through the screens to enter the needed information.
5. You will now be on the Your [XX] Business screen. 
6. In the Business Expenses section, click the Start box next to Business Vehicle Expense.
7. Continue through the screens.  TurboTax will first calculate the standard mileage deduction and then ask you if you want to calculate actual expenses.  [TT Online: Mark the Yes radio button and click Continue.  
8. On the screen, How much do you want  to deduct for the business use of this vehicle, TurboTax will indicate the max amount of 179 and special depreciation allowance.  Enter the amount you wish to take.  [See Screenshot below.]
9. On the next screen, indicate whether you want to take standard mileage or actual expenses (including 179)

TurboTax Online

1. Click Wages & Income
2. Under the Self-Employment section, click the Start/Revisit box next to Self-employment income and expenses.
3. On the Your 2020 self-employed work summary screen, click on Edit next to your business. 
4. In the Expenses section, click Edit next to Vehicle.  If you don’t already have Vehicle listed on this page, click the Add expenses for this work box
5. On the Here's your [business] info screen, click on the box Add expenses for this work. 
6. On the next screen, click the radio button next to Vehicle and click Continue.
7. Continue through the interview, entering the requested information.
8. On the screen, Now let's select your vehicle deduction, mark the button Help me estimate my actual expenses and click Continue.
9. On the screen, How much do you want to deduct for the business use of this vehicle? TurboTax has calculated the allowable 179 deduction and you will be able to indicate the amount you wish to take. 

@Galateanu

[Galateanu]

The "How much do you want to deduct for the business use of this vehicle" screen does not come up for me when I go through this process. I am using Windows version of Home and Business Turbotax 2020 software.

Is there a reason why this screen will not come up for me?

[JamesG1]

At the screen You've got a standard mileage deduction, did you click Yes, I'd like to see if my actual expenses give me a bigger deduction?  You have to elect actual expenses before you are given the section 179 option.

Perhaps you do not qualify for section 179 because you are already reflecting a net loss for the self-employment activity?

See this TurboTax Help.

The deduction cannot be more than your earned income (net business income and wages) for the year.

[L663]

I was able to get it to prompt the Section 179 fields after toggling things around. 

[DestinBroker]

I'm using self-employed and I'm not getting the Section 179 to pop up following the directions above.  It asks me what I paid for the vehicle and when I bought it but doesnt offer the Deduction amount screen. Is this because I'm using self employed? I own and operate a RE brokerage LLC and operate as a pass-through LLC, thus why I'm using the self-employed software. 

Thanks in advance

EDIT: I had to toggle personal use on but miles to zero for my business suv to pop up the 179 deduction. Finally got it to work, seems like a glitch in the software. 

[ThomasM125]

It may be that you had the business use set at less than 50%, because the section 179 deduction is not allowed in that case.