taxguy057 Posted February 8, 2010 Report Share Posted February 8, 2010 Got a client who travels alot for the company she works for in her own personal car she purchased just for that purpose. Her company does not remburse for the vehicle expenses. I've been filing Form 2106. Just notice that top of form stated somthing about "if wanting to use 4562 don't use 2106 but asset entry form to transfer because it wont from 2106." My question is do I need to do this? I'm sure my client uses this car for more than just work so should i go that deep into depreciation or just leave that animal alone?? :dunno: Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 8, 2010 Report Share Posted February 8, 2010 If the car is the only business asset you can use the vehicle info section of the 2106. If you have other equipment, such as computers, printers, tools, etc, then you would be using the 4562 anyway, in which case you should use it for the car too. Same thing on the Sch C. Quote Link to comment Share on other sites More sharing options...
taxguy057 Posted February 10, 2010 Author Report Share Posted February 10, 2010 If the car is the only business asset you can use the vehicle info section of the 2106. If you have other equipment, such as computers, printers, tools, etc, then you would be using the 4562 anyway, in which case you should use it for the car too. Same thing on the Sch C. She just has the car... so Whew! I've been doing it right so far with the 2106. Thx!! ^_^ Quote Link to comment Share on other sites More sharing options...
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