Bought a used infiniti for business purposes this year. I found where to enter the vehicle, but what section do I go to, to enter the amount I paid for it in Turbotax?

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1 Best answer

New Member

Jun 4, 2019 6:44:09 PM

The Depreciation section of the Vehicle Expense for your Self-Employed Business is not available currently. It is being updated to reflect the new tax law.

However, when it is available you will choose entering actual expenses and proceed to enter the cost of your vehicle.

(This is what the page looks like in TurboTax when you are in the section to enter your vehicle cost)

Depreciation Under Construction
The IRS made major changes to depreciation this year. We want to be sure you have the most up-to-date
calculations available and we're still working on this area of the Interview
You can enter your information now, but be sure to come back and check your entries to make sure we have
all the information we need to finish your taxes. We'll remind you again when we review your federal return.
Select Continue to keep going on your return now.

New Member

Jun 4, 2019 6:44:09 PM

The Depreciation section of the Vehicle Expense for your Self-Employed Business is not available currently. It is being updated to reflect the new tax law.

However, when it is available you will choose entering actual expenses and proceed to enter the cost of your vehicle.

(This is what the page looks like in TurboTax when you are in the section to enter your vehicle cost)

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Bought a used infiniti for business purposes this year. I found where to enter the vehicle, but what section do I go to, to enter the amount I paid for it in Turbotax?