☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 1, 2019 11:12:42 AM

Used vehicle placed in service in 2017. Does this qualify for bonus depreciation?

0 2 1052
2 Replies
Level 1
Jun 1, 2019 11:12:42 AM

Yes, if purchased and placed in use after September 27, 2017.

For more information, follow this link: http://bakertilly.com/insights/bonus-depreciation

Returning Member
Aug 23, 2019 6:40:28 AM

@CarolynM,

we purchased a used car in 2018 and we are trying to get this bonus depreciation.

 

When we were going through the TurboTax screens, it asked us "Did you purchase your car new?".  It then gives us 2 choices:

 

  • Yes, I purchased this vehicle new.

  • No, this vehicle was used when I bought it.

 

When we select "used", the TurboTax system DOES NOT let us get the bonus depreciation.However, if we select "new", the TurboTax system WILL let us get the bonus depreciation.

 

Question:

Why isn't the TurboTax system letting us get the bonus depreciation when we select "used"?  Is this a bug in the TurboTax system?