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End of Year Vehicle Purchase; over 6000 lbs
I have 2020 TT but it isn't complete yet so I can't do the trial and error like I thought. So my question:
Is there any appreciable benefit in deductions to buying a Truck over 6000 pounds and put in service the last week of December. Does the special allowance apply? And if so is that allowance (and any depreciation) reduced for the short period of time within the year of usage?
Business use 95 to 100%
Self Employed/Sole proprietor
‎December 13, 2020
1:09 PM