Turbo tax is asking me how much did i pay for my business vehicle Semitruck, do i put how much i have paid to date or what the finance loan payed total for the vehicle?

[martinpozosmonto]

ex:

OK. Let's figure out the value of your 2012 kenworth t660 for depreciation basis.

Turbo tax is asking me how much did i pay for my business vehicle Semitruck, do i put how much i have paid to date or what the finance loan payed total for the vehicle?

i have paid around 15000$ i owe 30000$, do i put the total amount where its asking  me how much i paid for the vehicle (45000)? or only 15000 ?

[AnnetteB · Accepted solution]

You would use the total that was paid for the vehicle -- $45,000 from your example.