Deductions & credits

 

Hi Irene.

Thank you for answering my questions.

By 2020 I am using the Standard Method or Standard Mileage Method. This means that I cannot depreciate this Truck. So if he used depreciation he was using Current Method or Actual Expenses Method in Vehicle Expenses.  If he used section 179 he was trying to do accelerated depreciation (used only once) and
not the MARCRS method where trucks are considered five years. Please correct me and if I am wrong tell me where I can find more information about examples how to use this section 179.

Thank you so much