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Entering expenses for a vehicle not being depreciated in ProConnect Tax
by Intuit• Updated 1 year ago
To enter vehicle information to calculate the actual expense or standard mileage rate to be reported on a Schedule C, E, F, or Form 2106, follow the steps below. For Schedule C filers, this information will also flow to the Schedule C, Part IV, or Form 4562, Part V, whichever is applicable.
- Go to the Input Return tab.
- Select Deductions from the left menu.
- Select Vehicle/ Employee Bus. Expense (2106).
- Select the form to link this vehicle to in Form (Click on arrow to select from list).
- Scroll to the Vehicle Information section and complete the applicable information.
- In the Vehicle Expenses section, enter the Date placed in service, Total mileage, and Business mileage.
- Scroll to the Actual Expenses subsection and enter any applicable amounts.
- If actual expenses are entered, ProConnect will automatically determine the greater deduction between mileage or actual expenses.
- You can force either deduction in the field 1=Force Actual Expenses, 2=Force Standard Mileage Rate.
Additional information
- Two vehicles can be entered on each tab. If more entries are required, select the + from the top of the screen to add a new tab.
- If you link more than two vehicles to the same Schedule C, the listed property information carries to Form 4562, Page 2.
- Expenses for employees with disabilities carry to Schedule A in full if you enter 2 in: 1 If Qualified Performing Artist, 2 If Handicapped Employee, 3 If Fee-Basis Govt. Official.
- Fee-basis government official expenses carry directly to Form 1040 if you enter 3 in: 1 If Qualified Performing Artist, 2 If Handicapped Employee, 3 If Fee-Basis Govt. Official.
- Excess reimbursements for expenses other than meals and entertainment carry to Form 1040 as additional wage income.