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April 15, 2023
Question

Vehicle expense in software doesn't match printed in return

  • April 15, 2023
  • 1 reply
  • 0 views

I bought a used truck last year. The software had my vehicle expenses as $2345. When I review before filing it has $345 on line 9 of schedule C. Why could there be the $2000 difference? I put more than $345 in fuel, besides licensing, notary, and insurance.

    1 reply

    AliciaP1
    AliciaP1
    April 15, 2023

    If you reported mileage that made the business usage less than 100%, the amount on your Schedule C will be less than the total expenses entered in TurboTax.  The usage applies to all costs except tolls and parking fees.  Also, depreciation or the Section 179 deduction for the vehicle shows on line 13 of the Schedule C.

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