I purchased a car to use for work ($23.678) and I don’t know how much I can enter under the section 179 deduction. I also don’t know if I should pick “I’ll take the special depreciation allowance” or “I don’t want to take the special depreciation allowance”.
Thank you
You'll need to sign in or create an account to connect with an expert.
I would recommend leaving 179 blank/zero. Select that you will take the special depreciation allowance. Continue until it gives you a box for special depreciation.
You will be able to deduct up to $13,696. That's your choice, but you can take the whole amount. If you don't take the whole amount, the remaining will be depreciated over the next 4 years.
I would recommend leaving 179 blank/zero. Select that you will take the special depreciation allowance. Continue until it gives you a box for special depreciation.
You will be able to deduct up to $13,696. That's your choice, but you can take the whole amount. If you don't take the whole amount, the remaining will be depreciated over the next 4 years.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chunhuach
Level 1
jim202400
New Member
sherryburke1206
New Member
ajv28
New Member
imthetaxman1
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.