Small business truck write offs...

[khatcher446]

We have a small lawncare business in Nebraska.  Last year I expensed 2 trucks as regular business expenses (179) instead of entering them as Business vehicle expenses.  Not sure why I did that...  Should I amend last year's return.  Is this a big audit flag??  If so, is filing an amendment a big deal?

[AmeliesUncle]

Depending on the GVWR, the cost of the vehicles, and the exact specifications of the trucks, there is a good change the depreciation deduction should have been limited last year.  If that is the case, yes, you should amend last year's tax return to correct it.

[khatcher446]

Thanks for the reply  @AmeliesUncle ,

They're both 2012 Chevy 2500 Silverados $15K each, bought in 2024.  GVWR = 6000+

If I amend and add them as Business vehicles, there is the Special Depreciation option available I noticed...  Probably should amend then, right?  Does the amendment need to be fully handled before I send in the 2025 return?  Just don't want to flag an audit.

fyi:  Last year I used the 179 depreciation feature and completely wrote 1 of them off...

Thanks!

Kevin 

[AmeliesUncle]

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@khatcher446 wrote:

They're both 2012 Chevy 2500 Silverados $15K each, bought in 2024.  GVWR = 6000+

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In your case, it would have been the same result if you had entered it as a vehicle.  There is no need to amend, unless you forgot to enter the vehicle expenses (gas, maintenance, insurance, etc.).

[khatcher446]

Thank you!