Luxury Automobile Depreciation

[asidhu01]

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.

[abctax55]

F 4552

[sjrcpa]

Anna means 4562

[asidhu01]

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

[George4Tacks · Accepted solution]

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

[asidhu01]

thank you so much for the picture. Definitely helped a lot. When I enter a dollar value in that it does not reflect in any of the deductions when I check my return. 

[George4Tacks]

I think you should remove any entry into the area I showed you. PTO does a good job of automatically doing the bonus depreciation. If you want help to figure out what you should be getting you need to share more information. 

• What type of vehicle
• What is the GVW of the vehicle
• What is the approximate purchase price
• What date was it put into service.

[abctax55]

Oops... dancing digits, and it's too late to edit my reply.  Thanks Susan, for pointing my mistake.