Tax write off for quad axel truck bought

[Djnyse187]

I bought a truck for my business. It cost “ ME” not the business but “ME” $20,000 but it for a new business that has not started generating any income yet. But company has been open but still not operating. Just buying and getting trucks and company ready to start but I put all the money from my pocket. Can I deduct the 20,000 I paid to by the truck on my taxes and how or what forms is needed

[Vanessa A]

No.  If the company is not yet operating, you cannot take a deduction for it.

When it does start operating, then you can enter the trucks as assets and the other start up costs as start up costs.  So if you actually begin operations this year, you would be able to enter the truck as an asset on your 2025 return and deduct the start up costs on your 2025 return.