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]
TurboTaxIrene - I need the depreciation, getting the mileage deduction was easy, but cannot find vehicle depreciation calculation anywhere. Schedule C, line 13 needs to be filled in.
If you're taking standard mileage, you can't also take depreciation. The depreciation line (line 13) is for depreciation on assets other than your car.
We did get depreciation on the last business vehicle we had, and we used standard mileage