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I bought a truck last year for$35,000. According to law, the maximum depreciation I can charge for the year is $18,000. How do I properly calculate depreciation for the 1st year?

Depreciation and Vehicle Deductions
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Tax Professional Answers

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John Stancil
If you are using tax software, it should calculate the depreciation automatically. Otherwise use the depreciation charts and instructions. This may be of help. https://fitsmallbusiness.com/car-depreciation-deduction/
Leave a Comment 113 weeks ago

User Photo
John Stancil
If you are using tax software, it should calculate the depreciation automatically. Otherwise use the depreciation charts and instructions. This may be of help. https://fitsmallbusiness.com/car-depreciation-deduction/
Leave a Comment 113 weeks ago

 

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