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elifuchs1
New Member

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

 
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5 Replies
KrisD15
Expert Alumni

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

To clarify, are you reporting a sale of a business vehicle?

If yes, was it also used for personal use and did the percentage of personal/business use fluctuate over the years?

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elifuchs1
New Member

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

Yes we sold a car last year, but the percentage of use did not fluctuate.  It was used 50% for business and 50% personal.  I'm just now sure how to adjust to fix the error.  Right now my depreciation is $2240

KrisD15
Expert Alumni

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

Have you ever had to deal with Alternative Minimum Tax (AMT)? 

If you did, you would know it. 

Most people are not subject to AMT, so please enter the same amount of depreciation for regular tax and AMT. 

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elifuchs1
New Member

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

Thanks Kris!  When I put the $2240 in the AMT line, the error now doubles to $4480.  

RobertB4444
Expert Alumni

I am getting an error on Schedule C - Car & Truck Expenses Worksheet AMT dep allowed/allowable too large error...I cant fix it...help!

The system thinks you are entitled to zero depreciation.  You need to review all your entries for the mileage that you entered for the year to be sure that it equals 50% of the total usage.  

 

@elifuchs1 

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