Okay I think I understand but I want to be sure because its going to give me a fairly large deduction.

In 2012 we decided we needed a bigger vehicle in order to do trips to the park and drive a couple kids around to school and such. So we bough a new Minivan.

Question:
In TurboTax I am going through the Business Vehicle Expense section and its asking about mileage and all of that, but nowhere does it ask for total purchase price or state taxes, where do I put this info?

Would I use my T/S% to calculate percentage of use? or is that based on mileage?

We do use for personal use but the reason we purchased it was because we needed something to haul kids around, without the daycare we would have never purchased this vehicle.

We are actually closing the business in 2013, is there anything I should be worried about if there is some sort of Section 179 deduction for this vehicle? Like having to payback a portion of the deduction?

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