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New Member

How do I figure out the AMT depreciation value for my 2011 vehicle used for work?

2 Replies
New Member

How do I figure out the AMT depreciation value for my 2011 vehicle used for work?

Depreciation assumes that assets used to generate business income will wear out, get used up, or become increasingly obsolete over a period of time. For taxation purposes, depreciation lets you deduct the "used up" portion of that asset's cost every year, until the entire cost is used up or the business no longer owns the asset.  You cannot claim more in depreciation than the value of the item. In this case, your vehicle.

The prior AMT depreciation would be the same as the prior regular depreciation if the depreciation was calculated by using the standard mileage deduction.  

It would also be the same if, when you depreciated the vehicle using the actual costs (fuel, tires, etc). rather than the standard mileage, you chose a straight line depreciation method.  (This is explained in the screens entitled "Let's Figure Out How to Deduct Your Vehicle Costs" and "Section 179 Deduction" which includes a link to on-demand tax guidance about the depreciation deductions you had used for your vehicle in the past).

If you don't remember, that's ok, use the defaults presented in TurboTax.  If you've had the vehicle longer than 5 years, it would be fully depreciated under both the regular and AMT methods.

To get back to this in TurboTax:

1.       Open (continue) your return in TurboTax.

(To do this, sign in to TurboTax and click the orange Take me to my return button.)

2.       In the search box, search for 2106 and then click the "Jump to" link in the search results.

3.       At the Tell us about the occupation you have expenses for screen, enter your occupation.

4.       Click Continue and follow the onscreen instructions.  

If you land on the Job-Related Expenses Summary screen instead, you can either Edit expenses for an existing job

Try these fixes:

Go back to the sale of vehicle and delete any numbers in the AMT section.


In Smart check, when the worksheet is displayed, right click on the field (Line 50 and/or Line 51).  From the dropdown menu displayed, select "Override".  You should then be able to enter any number that you want.

Refer to IRS Publication 946, How to Depreciate Property if you require more detailed, in-depth information.


New Member

How do I figure out the AMT depreciation value for my 2011 vehicle used for work?

i'm sorry, but for all the information you just cited.. you still did NOT answer the question of HOW we are supposed to figure out what to enter for Prior Depreciation!  HELP!

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