12/28/2023, I purchased a Toyota Camry to use in my business. I want to take a Section 179 deduction, but don't see the option after adding it to the vehicle section. Turbo Tax only gives me the choice of deducting business mileage or actual expenses.
In another post on this site, a suggestion was given to add a vehicle as an asset under Equipment. Is that a valid workaround? I wanted to make sure that was okay. Or is there a way to get the software to offer the Section 179 deduction in the vehicle section?
My business is financial planning and I put it down as sales, so I don't know if that is throwing the system off. Thanks.
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Please disregard/close this post. I was able to get to the Section 179 deduction after answering questions for actual expenses of the vehicle.
Please disregard/close this post. I was able to get to the Section 179 deduction after answering questions for actual expenses of the vehicle.
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