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Get your taxes done using TurboTax
@Anonymous_ wrote:
So yes, you can "write off" the cost of a trailer, but as an asset over time, not all at once.
The above-quoted statement is true except in the event that the rental activity of the associated properties rises to the level of a trade or business (unlikely, but possible).
Yes, you already covered the ways in which a business can "write off" an asset more quickly, if it qualifies.
‎August 7, 2023
10:20 AM