I recently purchased a used vehicle with add ons - 3 year warranty, GAP insurance and lifetime oil change. I'm trying to determine what the vehicle basis amount will be for depreciation. Of course I am adding the license and other fees to the purchase price, but what about these add ons. Can I separate out these items in their own assets, or at lease the 3 year warranty since the life of the vehicle is 5 years.
Thank you
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Everything EXCEPT the GAP ins is totaled together and comprises the cost basis for depreciation. The GAP ins is insurance.
Thank you
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