I purchased a motor vehicle in 2023 that qualifies for DIEP. Total cost is $86,000 but Turbo Tax only allows me to expense $40,320 of CCA. Why not the full 100%?

8228

Level 2

Jun 24, 2024 7:27:28 AM

It depends on when you bought this vehicle, did you buy it in the middle of 2023, because the amount is pro-rated with the period for the vehicle used in a particular year.

Thank you for choosing TurboTax.

Why sign in to the Community?

I purchased a motor vehicle in 2023 that qualifies for DIEP. Total cost is $86,000 but Turbo Tax only allows me to expense $40,320 of CCA. Why not the full 100%?