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Deductions & credits
Yes.
But just be aware of two things: (1) if your business percentage does fall to 50% or less, there will be recapture of the depreciation and (2) taking that 90% Bonus Depreciation lowers the Basis of vehicle by 90%, which means (a) future depreciation will be non-existent and (b) whenever the vehicle is sold, you will likely have a taxable gain.
‎September 23, 2020
11:17 AM