I switched using one vehicle to using our other vehicle for my small business. What do I put for my vehicle cost if I still own both vehicles outright?

xp1der · ‎June 1, 2019

MarilynG · ‎June 1, 2019

EDIT your first Vehicle in Business Expenses, and indicate you 'stopped using it for business' and the date (screenshot).

Enter a Sale Price of $0.

Set up your second Vehicle, and for Cost enter what you originally paid for it (and date purchased).

When you add the date you 'started using it for Business' TurboTax calculates the depreciation for you correctly on the new vehicle.

Here's more info:

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MarilynG · ‎June 1, 2019

EDIT your first Vehicle in Business Expenses, and indicate you 'stopped using it for business' and the date (screenshot).

Enter a Sale Price of $0.

Set up your second Vehicle, and for Cost enter what you originally paid for it (and date purchased).

When you add the date you 'started using it for Business' TurboTax calculates the depreciation for you correctly on the new vehicle.

Here's more info:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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