LLC Business

[mcieric]

I am using TT for Business. I see where I can enter opperating cost for a vehicle owned by the LLC, but I can't figure out where to enter the cost of the asset for depreciation.

[PatriciaV]

To add a vehicle for depreciation in TurboTax Business, go to Federal Taxes >> Deductions >> Depreciation of Assets. Enter the purchase information about the vehicle here.

Vehicle expenses (including reimbursements) are reported under Business Expenses >> Auto and truck expenses (Form 1065) or Vehicle expenses (Form 1120S).