Unfortunately, Section 179 and Special (Bonus) Depreciation are available only in the year that you first used the truck for your business, and in most cases you must be the first person to own the equipment. If you purchased and began using the truck in 2021, you should have claimed the accelerated depreciation on your 2021 tax return. You do have the option to amend your 2021 return and claim this depreciation, which could affect your taxes a great deal.
However, if you actually purchased a new truck in 2022 and began using it for your business in 2022, you have the options that Cynthiad66 mentioned above. This could be a significant decision for your business, so you may wish to consult with a local tax or business expert before you decide.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
