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TurboTax will determine the correct depreciation options for your vehicle when you complete the interview for Vehicle Expenses.
(If you are using the mobile app and don't have My Account or Tools on your screen, try logging into TurboTax from a laptop or desktop browser.)
For reference, automobiles and most trucks have a recovery period of 5 years under MACRS, using a half-year convention, calculated as a 200% double-declining balance. TurboTax uses it's own code for this MACRS class.
Turbotax only allows to depreciate semi-truck (truck tractor for over-the-road use) for 3 years. Per IRS you can appreciate it over 5 years. No way to change it in TurboTax!!
You are correct, semi-trucks have a recovery period of 5 years. Here is how to fix it on TurboTax:
If you can't make these changes, you can delete the asset, instead of editing the asset you can delete it on Step 7, and enter it again.
Feel free to reach back if you have additional questions.
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