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April 14, 2022
Question

Depreciation for Business Use % for Farm truck is not correct.

  • April 14, 2022
  • 1 reply
  • 0 views

Purchased new truck 11/21.  Mileage is entered as  64% business, but TurboTax is calculating it by the calendar year on the car and truck worksheet and is only reflecting 2 months for special allocation(line 10b) at 10.42% (line 9).  It's not letting me get the whole (64%) special depreciation that I want to take this year.  How can I get the whole special depreciation to show for 2021?  Thank you for any help. 

1 reply

April 14, 2022

When it asks you if you kept track of personal miles, say YES.

GrapeMikeAuthor
April 15, 2022

Thank you for the reply, but he tried that and it didn't change anything.  He's still trying to figure it out.  

PaulD CPA
March 11, 2023

Agreed, answer the mileage tracked for personal purposes question as YES

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