If I bought a used car end of 2020 and immediately started using it for business...would i do half year convention (MACRS) or mid-quarter convention? Car cost $58k
02390
2 Replies
Mike9241
Level 15
Oct 14, 2022 5:35:23 AM
Turbotax should automatically compute the proper depreciation and use the proper convention if you entered the info about it correctly. including the date placed into service. if your trying to do the 2020 return, online preparation is closed for 2020 you need a desktop version