cannot find where to calculate depreciation for business vehicle placed in service 2016. It's not in Business Vehicle Expenses that I can find..
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For vehicles used in your business you can either take mileage or actual expenses.
As you go through the interview, TurboTax will first calculate the standard mileage deduction and then ask if you would like to see if actual expenses would give a higher deduction. You will have the opportunity to enter the expenses (gas, tires, etc.) and TurboTax will add these along with the depreciation and give you a comparison.
If you are talking about vehicles other than road vehicles (tractors, etc.), you should enter these as depreciable assets. To enter these items, please follow these steps:
[Edited | 4/10/2020 | 9:06am PDT]
For vehicles used in your business you can either take mileage or actual expenses.
As you go through the interview, TurboTax will first calculate the standard mileage deduction and then ask if you would like to see if actual expenses would give a higher deduction. You will have the opportunity to enter the expenses (gas, tires, etc.) and TurboTax will add these along with the depreciation and give you a comparison.
If you are talking about vehicles other than road vehicles (tractors, etc.), you should enter these as depreciable assets. To enter these items, please follow these steps:
[Edited | 4/10/2020 | 9:06am PDT]
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