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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?

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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/

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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/

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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?

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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?

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