Turbo Tax Mac product allows full (60%) bonus depreciation but does not offer section 179, or partial bonus depreciation.

Forum|Forum|1 year ago
February 19, 2025
1 reply
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Entering a 2500 Truck for my business, it asks if I want bonus depreciation or not. Is there an opportunity to not take the full 60% (for 2024) bonus depreciation, as it's a bit of a waste for the income with my business. Can I elect a smaller percentage (like 40%) for bonus depreciation or use section 179? It currently doesn't give me any choices.. only Y/N to full bonus depreciation. Thanks!

AmyC

Employee

Yes, you can say no to the bonus depreciation and still qualify for a sec 179 deduction. See the limits on Sec 179 to see if you qualify.

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DrewdudeAuthor

Thanks Amy, I have tried the No to bonus answer, and it only applies the base amount, with no offer of a separate 179 calculation. My goal is to take something between the base amount of depreciation and the full bonus depreciation. Not seeing how to do that currently.

PatriciaV

Employee

Yes, if you are using TurboTax for Desktop, you can manually override the amount of special "bonus" depreciation applied to your vehicle in the year you place it into service. This option is not available in TurboTax Online.

In TurboTax for Desktop (any version), open your return and click the Forms icon in the TurboTax header.

From the forms list in the left column, click on Car & Truck Wks (type of vehicle) to open it in the large window.
Scroll down to Part VI Line 36(i).
Enter the actual amount of special depreciation you wish to claim in the yellow box.
Note that AMT Special Depr Allowance changes to the same number.
Click Step-by-Step in the header to return to the main screens.