Question

vehicle depreciation

Forum|Forum|5 years ago
December 28, 2020
1 reply
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I have a 1995 Ford F250 truck used on my horse farm. It was bought used in 1995 and has been used in the business since that time. The truck is obviously fully depreciated for tax purposes, although I cannot recall when that occurred and don't have tax returns that far back--probably in 2000? For 2020 I entered actual expenses for its use but TT insists on adding depreciation, why I don't know, because I clearly entered the date of acquisition. Depreciation should be zero, no? How can I get TT to acknowledge that fact?

Thanks Randy