Question

vehicle purchase for business

Forum|Forum|6 years ago
January 27, 2020
2 replies
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where do I put the purchase price for a vehicle that was bought for business in 2019?

Use the path Federal>Income & Expenses>Self-employment income and expenses to find your business. Click on your business, and in the Expenses section, you will see "Vehicle". Start that Vehicle section, and the interview will guide you through the questions, including what you paid for the vehicle you bought in 2019.

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K

kvbackflow

going back to the vehicle section it doesn't ask the purchase price.

M

MayaD

To trigger the question regarding the purchase price you have to choose to deduct the actual expenses not the standard mileage.

Go Self Employment Income and expenses.
Scroll down to Expenses and click Edit next to Vehicle.
In the Vehicle Summary screen click Edit .
Answer the question until you get to the screen Now let's select your vehicle deduction.
Select I want to enter my actual expenses without estimating them first.

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