If I used standard mileage deduction for first year, then switch to actual expense in the following year, do I claim "no depreciation" for the first year?

During the Error Check, TT tells me that on Schedule C... "Car & Truck Expenses Worksheet: AMT prior depreciation- 1 must be entered. If none, enter zero." (attached is a screenshot).

Then it gives me a box to fill in the AMT prior depreciation.

Where do I find that figure? My total standard mileage deduction for the car in the previous year was $876.

I'm using TurboTax Home & Business

2708

1 Best answer

Level 15

May 31, 2019 5:45:55 PM

When you use the standard mileage rate it includes the depreciation so if you switch to the actual expenses you have to compute the amount of depreciation taken each year you used the standard rate ...

Depreciation Adjustment for Standard Mileage Rate is done on a cents per mile basis...

Year Depreciation per mile

2016 > 24 cents per mile

2015 > 24

2014 > 22

2012-2013 > 23

2011 > 22

2010 > 23

Level 15

May 31, 2019 5:45:55 PM

Depreciation Adjustment for Standard Mileage Rate is done on a cents per mile basis...

Year Depreciation per mile

2016 > 24 cents per mile

2015 > 24

2014 > 22

2012-2013 > 23

2011 > 22

2010 > 23

Returning Member

May 31, 2019 5:45:57 PM

Thanks Critter#2 - Follow up question... should I do the calculation on the total miles driven, or on the business miles driven? Thank you so much!

Level 9

May 31, 2019 5:45:59 PM

Business only.

Returning Member

May 31, 2019 5:46:00 PM

Thank you TaxGuyBill 🙂

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If I used standard mileage deduction for first year, then switch to actual expense in the following year, do I claim "no depreciation" for the first year?