prior year vehicle depreciation

Forum|Forum|11 months ago
April 24, 2025
1 reply
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I need my prior year vehicle depreciation number for our current business portion of our filing. From what I have read in prior posts, the number should be on our prior year Form 4562. The only depreciation showing on both the Depreciation and Amortization, and AMT reports is for our home. Can I safely enter zero?

Thank you.

TurboTax Home & Biz Windows

Best answer by PatriciaV

Did you report this vehicle under your business in prior years? If so, you should have a Car & Truck Worksheet in your TurboTax return that will have the depreciation information under Part VI.

Note that each activity on your return (Schedule C or Schedule E) will have its own Depreciation and Amortization Report.

If you need to print the forms and worksheet in your prior year return, see How do I get a PDF of my return?

PatriciaVAnswer

Employee

Did you report this vehicle under your business in prior years? If so, you should have a Car & Truck Worksheet in your TurboTax return that will have the depreciation information under Part VI.

Note that each activity on your return (Schedule C or Schedule E) will have its own Depreciation and Amortization Report.

If you need to print the forms and worksheet in your prior year return, see How do I get a PDF of my return?

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kare2k13Author

Employee

Thank you so very much! I found the information thanks to your reply. Yes, I have reported the vehicle in all prior years. I'm curious why it doesn't appear on the 4562 form, which shows prior depreciation for our home and other information for the vehicle, but not the prior year depreciation.

I'm also curious why I didn't receive notification that I had received a reply. I didn't find this until this morning.

Thank you again so very much for your response and solution.

LeticiaF1

Form 4562, mostly shows current year depreciation information. This is why there is not a lot of information on your prior year asset depreciation information.