FACTS: On January 10, 2023 my Sch. C client bought a used heavy duty van he used 89% for work in 2023, the vans has a depreciable basis of $15,808. I did not include the van in the original 2023 return and I am now doing a 1040X to include depreciation and a $10,000 section 179 deduction. In the original return I used the standard mileage deduction of 36,000 work-miles. ISSUE: doing the 1040X I accessed the auto schedule, entered the $10,000 section 179 (also entered other amounts with the same result) but the depreciation is not reflected in any of the forms – there s no change in the amount due for 2023. The depreciation is not recognized. The program issued a depreciation schedule for the van with some odd numbers. Intuit customer support (level 1) was unable to resolve my problem. Any ideas as to I am doing wrong?
Best Answer Click here
You can take standard mileage rate or the business percent of actual expenses - subject to various rules.
If you still have standard mileage rate in the return you won't get depreciation.
You can take standard mileage rate or the business percent of actual expenses - subject to various rules.
If you still have standard mileage rate in the return you won't get depreciation.
on the auto work sheet go to line 24 and check box to force method.
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