'Section 179' + 'Bonus depreciation' of a new car.

When you add your vehicle to your Business Expenses, you will be given the option to take Section 179 and/or Special "Bonus" Depreciation. You can choose to take Section 179 for some or all of the purchase price (depending on the limits), then claim Special Depreciation for the balance (up to 60% for tax year 2024). After that, regular depreciation would apply. 

The easiest way to find any section of TurboTax Online is to go to Tax Tools in the left column >> Tools >> Topic Search. Type in your topic, click the topic in the list and then GO to go directly to the start of that section.

In TurboTax Desktop, use the Search box or Topic List found in the header.

Open your return and search for "Schedule C."

1. Add or edit your business.
2. Under Business Expenses, choose "Cars, trucks, and other vehicle expenses."
3. Add a vehicle (or edit an existing vehicle).
4. Follow the interview to enter the vehicle information, including mileage.
5. Choose to enter actual expenses.
6. If you wish to take Section 179, you must have purchased the vehicle this year.
7. The depreciation section begins with "Let's figure out the value of your vehicle."
8. After you enter your purchase price, the next screen asks if you wish to take Section 179, and the maximum amount you can claim for this deduction.
9. Also on this page is a question about special depreciation, and how that can be combined with Section 179.
10. Choose to stay with actual expenses.
11. The final page shows your total vehicle deduction for the year.

If you want to review your entries, you can print/preview the Car & Truck Worksheet for this vehicle. Part VI of that worksheet displays the depreciation calculations.

Follow these instructions for printing: How do I get a PDF of my return?