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Daycare and Taxes>Tom Help Please, Bonus $8000 Depreciation
Jenniferdawn 04:06 PM 04-14-2012
You helped me calculate my new car depreciation and the numbers came out to $1490 depreciation deduction plus bonus $8000 deduction. We are doing our taxes on turbo tax and we weren't able to count that $8000. It only allowed the $1490. Where would we put this $8000 on the forms?
Jenniferdawn 04:44 PM 04-14-2012
Do I only qualify for the $8000 if my car is used more than 50% for business?
TomCopeland 06:00 PM 04-15-2012
As long as the car is purchased new, you are entitled to claim the $8,000 additional depreciation. I don't know why Turbo Tax is not allowing this. I would contact them directly.
Tags:depreciation, depreciation - car
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