Question

How do I involve Turbo Tax on reporting my work vehicle as an item that depreciates over multiple years?

Forum|Forum|6 years ago
April 23, 2020
1 reply
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I use my personal vehicle as a part of my work. How do I report the first year of depreciation on my vehicle used on my job? I will report the depreciation each year.

TurboTax Deluxe Online

DavidS127

To enter your vehicle depreciation for the vehicle used in your business, go to the TurboTax Online section Federal>>Income & Expenses>>Self-employment income and expenses>>[name of business]>>Expenses>>Vehicle. You'll probably need the TurboTax Online Self-Employed version to depreciate the business use of the vehicle.

The TurboTax articles at this link and this link provide good overviews of the depreciation of business assets and deductions for your business vehicle.

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