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MG7508
Returning Member

Actual Car Expense Calculations

I bought a new car on 6/29/2020 and use it for both personal and business.  I want to deduct actual expenses and 25% of my mileage was for business, so I would expect to see 25% of the expenses deducted.  But TurboTax is is allowing only 7/12 of 25% for the 7 months of the calendar year the car was used for business.  Depreciation is already decreased because of the partial year, so that and remaining expenses I think should be apportioned by the full percent of business use.  Am I missing something?

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1 Reply
MG7508
Returning Member

Actual Car Expense Calculations

Disregard.  I deleted the car and reentered and things look a lot better now.

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