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M
mac20coaching
Level 4
March 30, 2023
Question

My client purchased a Ford F-250 for $60,000 in 2022 for 100% business use. Can I depreciate the full amount of the cost in the first year?

  • March 30, 2023
  • 3 replies
  • 18 views
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3 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 30, 2023

You may want to check out Pub 463 for the rules around deducting  business vehicles, this should drop you close to where you need to be in he Pub 


https://www.irs.gov/publications/p463#en_US_2022_publink100033959.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    PATAX
    PATAX
    Level 12
    March 30, 2023

    What kind of business is your client in? Are you sure this is being used 100% business? 

      dd4vols
      dd4volsIntuit Community Champion
      Intuit Community Champion
      March 30, 2023

      F250's certainly meet the GVW test...

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