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Section 179 and Bonus Depreciation for vehicle (over 6000 lbs)
I bought a new truck in 2022. Apparently, I only took the bonus depreciation for that year which created a relatively large loss for the business. I did not use Section 179. I'm trying to figure out if I should have also taken the Section 179 deduction in addition to the bonus depreciation; and also trying to determine how to carry the loss created by the 2022 bonus depreciation into 2023.
Lastly, is it worth revising my 2022 return to include section 179?
‎April 5, 2024
10:22 AM