How do I override the depreciation basis of my business vehicle? CPA took special depreciation allowance the first year my vehicle was put in service.

[jjncg]

How do I override my business vehicle depreciation basis in turbo tax? My CPA took a special depreciation allowance the first year my vehicle was placed in service in 2012. Turbo tax did not ask for prior year special depreciation allowance amount. So the current depreciation basis is overstated by that amount.

[Cattlerancher · Accepted solution]

If the vehicle was new in 2012 and you used actual vehicle expenses, you should be able to check the box, "I purchased this vehicle new" and receive the 50% Special Depreciation Allowance. This should make your vehicle depreciation match with what the CPA did.

Please see the page snip below;