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October 10, 2023
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How to enter qualified nonpersonal use vehicles in the depreciation screen, so that it appears on Form 4562 as non-listed property?

Related products:Lacerte
  • October 10, 2023
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Publication 946, page 51 explains that the definition of Listed Property does not include "qualified nonpersonal use vehicles" such as:

"Any vehicle with a loaded gross vehicle weight of over 14,000 pounds that is designed to carry cargo."

or, "Bucket trucks (cherry pickers), cement mixers, dump trucks (including garbage trucks), flatbed trucks, and refrigerated trucks."

Since these types of vehicles fall outside the definition of Listed Property, the business use substantiation rules that apply to Listed Property would not apply. 

How can I enter a qualified nonpersonal use vehicle such as this in Lacerte, such that I choose MACRS 5-year depreciation as appropriate to vehicles, but it is not shown on Form 4562 as Listed Property? 

Linked to IRS Publciation 946: https://www.irs.gov/pub/irs-pdf/p946.pdf#page=51