You must enable Javascript for the optimal TaxConnections experience See our instructions on how to enable Javascript.

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?

TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

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 261 weeks ago

Mark as Useful Remove Your Vote

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/

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

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?

Tax Professional Answers

View/Select our Current List of Tax Topics

Access Leading Tax Experts And TechnologyIn Our Global Digital Marketplace

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?

Tax Professional Answers

View/Select our Current List of Tax Topics

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

Learn from tax advisors, straight to your inbox

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace