Thank you very much.
I would appreciate if you could help me with one more business related question.
I am at Deductions - Business Asset Summary (Form 4562). I has a vehicle listed as an asset with 100% business usage. I used the car more like 80-90% for business related trips, but I want to add it as 70%. If I change the percentage, it changes all numbers for previous years (Depreciation and AMT).
How should I do it?
Also, the recovery period is 5 years but I fully paid off the car in 2019. Should I still leave it as 5 years?
