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Level 1
posted Jun 3, 2019 10:53:59 AM

I bought a Kawasaki side by side for my business. How do I declare the cost of this? Can I just treat the total cost($12000)as an expense if I use it totally for business

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1 Best answer
Intuit Alumni
Jun 3, 2019 10:54:00 AM

No, you can't expense an asset, but after you enter the asset, there will be options for how you can depreciate it. (be sure you don't elect to take the standard mileage option)

You may be able to take the entire cost through the 179 deduction and/or by using bonus depreciation. Interview questions in the software will explain how. 

1 Replies
Intuit Alumni
Jun 3, 2019 10:54:00 AM

No, you can't expense an asset, but after you enter the asset, there will be options for how you can depreciate it. (be sure you don't elect to take the standard mileage option)

You may be able to take the entire cost through the 179 deduction and/or by using bonus depreciation. Interview questions in the software will explain how.