Solved: Stopped business vehicle use. Spouse using for business now.

grizz2 · Mar 21, 2022 4:59:57 PM

<P>I was using a vehicle for business but my husband is now using this vehicle for business. It was not converted to 100% personal use, sold or given away as a gift. How do I account for this in TurboTax? </P>

Stopped business vehicle use. Spouse using for business now.

My business:

Purchased & placed in service 10/6/14

Used standard mileage rate

Stopped using it 1/8/21

His business:

Placed in service 1/8/21

Day became owner of vehicle 10/6/14

Using actual expenses method

Use the same "in service" date that you used originally. This will allow you to enter the total accumulated depreciation for the new business. In your example above, that would be 10/6/14.

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