QB Issue Resolution:

The purchased vehicle is a fixed asset and the cost is what you actually paid for it

depreciation is covered by IRS pub 946, 5 years useful life, tables A-?, depending on when it was placed in service

Resolution for Issue 'I purchased the 2016 used Vehicle for my business, how do I account for depreciation? what is the useful life of the asset?' available: Yes (Solved).
Source: Intuit Community forum.

I purchased the 2016 used Vehicle for my business, how do I account for depreciation? what is the useful life of the asset?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for 2016 used
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Error Recovery for 2016 used [Canada]
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