I used an asset 100% for my business since I acquired it, however, the "business" was considered a hobby previously. Does this still count as 100% for the business?

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I used an asset 100% for my business since I acquired it, however, the "business" was considered a hobby previously. Does this still count as 100% for the business?

If, in any particular year, your business meets the requirements to be considered a business, you may take depreciation for your assets. I would not recommend Section 179 or Special Depreciation if there is a doubt that it will waver between business and hobby for any given year.

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I used an asset 100% for my business since I acquired it, however, the "business" was considered a hobby previously. Does this still count as 100% for the business?

I used an asset 100% for my business since I acquired it, however, the "business" was considered a hobby previously. Does this still count as 100% for the business?

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