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Level 2
February 26, 2020
Solved

Luxury Automobile Depreciation

  • February 26, 2020
  • 1 reply
  • 16 views

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.

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Best answer by George4Tacks

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


Where you are entering the depreciation > Click details > see the picture that is hopefully worth 1,000 words.

 

1 reply

abctax55
Level 15
February 26, 2020

F 4552

HumanKind... Be Both
sjrcpa
Level 15
February 26, 2020

Anna means 4562

The more I know the more I don’t know.
asidhu01Author
Level 2
February 26, 2020

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