Take the largest amount for the maximum deduction. Be aware that some vehicles will be subject to cost limitations.
You will have to enter the actual expenses for the vehicle for you to depreciate the vehicle or claim the section 179 deduction.
In TurboTax Online Self-employed, at the screen How much do you want to deduct for the business use of this vehicle?, select the amount of Section 179 Deduction that you wish to claim.
The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year. If your tax return does not qualify for the section 179 deduction, this option will not be available at the page.
To qualify for a Section 179 deduction, the asset must be:
- Tangible (you're able to touch it, which excludes intangible assets like patents or copyrights)
- Purchased (not leased) for business use
- Used more than 50% in your business
- Placed in service (purchased, acquired, or converted to business use) during the current tax year
- Acquired from a non-related party
Under the rules of a Section 179 deduction, you must retain business use of the asset until the end of its useful life. If that is not possible, you must pay back part of the deduction as a Section 179 recapture.
Also consider Bonus Depreciation here.
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