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| Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc. |
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#1
04-14-2012, 04:06 PM
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Tom Help Please, Bonus $8000 Depreciation
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?
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#2
04-14-2012, 04:44 PM
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Do I only qualify for the $8000 if my car is used more than 50% for business?
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#3
04-15-2012, 06:00 PM
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car depreciation
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.
__________________
http://www.tomcopelandblog.com
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| depreciation, depreciation - car |
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