Christian Posted March 7 Report Share Posted March 7 Where has our simple Vehicle Expenses form used for the standard mileage rate gone off to ? Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 8 Report Share Posted March 8 It is there. I just had it last night, but they wouldn't let me use it because I had new depreciation. Go to the C or whichever form you are using and click on the car and auto expense block and it will jump you to the Vehicle Expense form. 3 Quote Link to comment Share on other sites More sharing options...
Christian Posted March 8 Author Report Share Posted March 8 I too have done that on Schedule C and F with no problems. For some reason on a Schedule F I recently used I was offered no choice for the Vehicle Expense form but was directed to the Form 4562 to use the fixed asset feature. I have no need to depreciate the client vehicle. Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 8 Report Share Posted March 8 Do a fixed asset and then link it to Schedule F or C as needed. You have the choice of mileage or actual expenses which include depreciation. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 8 Report Share Posted March 8 11 hours ago, Christian said: I too have done that on Schedule C and F with no problems. For some reason on a Schedule F I recently used I was offered no choice for the Vehicle Expense form but was directed to the Form 4562 to use the fixed asset feature. I have no need to depreciate the client vehicle. BUT... standard mileage includes a depreciation component, and you must track this depreciation component in order to calculate the gain or loss on disposition of that vehicle. Basically, every vehicle needs to be set up in fixed assets with its correct basis. If you do this, ATX will keep track of any mileage depreciation for you. It's actually quite a nice feature. And if actual turns out to be better than mileage one year, you are all set to take that option. 3 Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 8 Report Share Posted March 8 However, if you don't have any other depreciation; it is easier and faster to just use the Vehicle Expenses worksheet if you are only taking mileage. Anyone depreciating other property is aware of the worksheets for Listed vehicles. I, for one, find them a bit tedious if I don't have to go there. Quote Link to comment Share on other sites More sharing options...
Christian Posted March 8 Author Report Share Posted March 8 Well if you set the vehicle up for depreciation does the Fixed Asset module offer you the Vehicle Expenses module ? It was formally a choice offered when you went to line 10 of Schedule C or Schedule F. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 8 Report Share Posted March 8 1 hour ago, mcb39 said: However, if you don't have any other depreciation; it is easier and faster to just use the Vehicle Expenses worksheet if you are only taking mileage. Anyone depreciating other property is aware of the worksheets for Listed vehicles. I, for one, find them a bit tedious if I don't have to go there. So when the vehicle is disposed, you just ignore the gain or loss? Or do you go back and reconstruct the depreciation? I personally think those shortcut worksheets should be eliminated. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 8 Report Share Posted March 8 1 hour ago, Christian said: Well if you set the vehicle up for depreciation does the Fixed Asset module offer you the Vehicle Expenses module ? It was formally a choice offered when you went to line 10 of Schedule C or Schedule F. There is a vehicle tab for any asset set up as a vehicle. Quote Link to comment Share on other sites More sharing options...
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