1958607
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Vehicle Depreciation - 1st time Actual Expenses

I purchased a vehicle in 2018 and placed it in service 2019. For 2019 taxes, I used mileage deduction and would like to use actual expenses for 2020 and file depreciation. Do I list my mileage deduction amount from 2019 as a previous depreciation amount or list $0 for previous depreciation claimed.  Any help is appreciated!
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Vehicle Depreciation - 1st time Actual Expenses

the standard mile deduction for 2019 includes depreciation of $ .26 per business mile.  so multiply your business mileage by the above rate to calculate the depreciation taken in2019

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question