How do I select section 179 depreciation for a vehicle in 2019 turbo tax deluxe? It isn't giving me the option. It is only letting me take special depreciation of all of it. I have income to deduct it against and the vehicle weighs over 6,000 pounds. Help would be appreciated.
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Is this in the business or rental section?
Business . Schedule C
You must use the vehicle at least 50 percent for business purposes. If personal use exceeds the 50 percent cap, you'll have to depreciate the item instead.
To enter 179 information on your business vehicle in TurboTax Deluxe, please follow these steps:
It is used 100% of the time. I had this screen last year but I haven't seen this screen this year. I will look again tonight but I went through this multiple times and i never saw this screen.
It is 100% business use? No personal use at all? Did you include the mileage in the appropriate screen? That is how the program determines business use percentage.
It is 100%. I put in 5000 miles for this business. 0 personal. After the cost, it asks me if I want to take special depreciation allowance. Yes or no. So I went to the actual form and put in an amount for section 179 and now this screen is there. Thank goodness.
Good solution! That's certainly a benefit of using the CDD/Download version of TurboTax. Thanks for sharing.
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