Deductions & credits
Hi friends I hope you can help me.
It was bought in 2019
1) Truck : 2019 Ford F-150
2) Date of purchase : 01-01-2019
3) Purchase value : $18,000
4) Condition : Used from dealer
5) Payments : $378.00
6) Interests : $230.00
Tax Return 2019
Part II Expenses. Enter .......
Line 13 : Depreciation and section 179 expenses deduction ...... $5,017.00
Depreciation and Amortization Report
Prior Depreciation column : 0.0
Current Depreciation column : 0.0
Tax Return 2020
How should the truck to be depreciated for this year
Prior Depreciation : $XXX.XX (?)
Prior AMT : $XXX.XX (?)
