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If you use the standard "Vehicle Expenses" section, TurboTax applies IRS rules that favor MACRS if your business use is over 50%. You are usually only required to use Straight-Line if:
If you want to choose Straight-Line despite being eligible for MACRS, follow these steps to find the "election" screen:
Following your instructions to select s-l depreciation. I Navigate to business assets. Started af self employment income, sch c, expenses, selected :
- my business under line of work
- Under expenses selected add expenses for this work then Assets
-heading read LLC depreciable assets. None to select from so select add
-Tell us about this asset- name purchase date, service date, cost and under assets category closest choice to a car is construction equipment
- Tell more about assets-is item sold- no
Going through questions about previous depreciation can find no area to use s-l depreciation it automatically applies MARCS - done no other options
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