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Which screen would I claim 100% bonus depreciation on for luxury automobiles. It is a flat dollar amount. For example, $18k for first year and $16k for second year.
Best Answer Click here
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F 4552
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Anna means 4562
The more I know the more I don’t know.
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where on form 4562? Is it under special allowance? If I enter an amount for example, $16,000 it does not show up when I check my return
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Where you are entering the depreciation > Click details > see the picture that is hopefully worth 1,000 words.
Answers are easy. Questions are hard!
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thank you so much for the picture. Definitely helped a lot. When I enter a dollar value in that it does not reflect in any of the deductions when I check my return.
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I think you should remove any entry into the area I showed you. PTO does a good job of automatically doing the bonus depreciation. If you want help to figure out what you should be getting you need to share more information.
- What type of vehicle
- What is the GVW of the vehicle
- What is the approximate purchase price
- What date was it put into service.
Answers are easy. Questions are hard!
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Oops... dancing digits, and it's too late to edit my reply. Thanks Susan, for pointing my mistake.