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Deductions & credits
Being that you closed the one business before opening another and that it is a leased vehicle we are talking about makes it easier. There won't be an issue with basis, depreciation or mileage. Just add the vehicle asset in the new business and write off the lease payments from the day you began using it for the business. You can write off the lease payments made during the time the old business was active in 2021 as well.
‎April 3, 2022
4:36 PM