Thanks for explaining how they arrived at 12,740 for ty 2021.
If I land at 70% of 19.200 = 13,440, will I get an amount in year 2 that would account for the rest of 70% of that original purchase price of 30807?
Ex... 2nd year limit on chart you shared is 18,000...But since car wasn't expensive enough... would it possibly calculate out at approx 8124?
I arrived at this looking at 70% of 30800 = 21,564...
8124 is the rest of 70% not written off in year one or is year one it for me? Or do they divide that out over 5 years.
I don't know of course if 70% will be the same every year but I assume they'll calculate based on actual miles for biz vs personal for each year and I have to remain above 50% which won't be a problem.
Thanks so much for the help understanding this.
Do you happen to know a website where it lists the adjusted amounts by state? TT says Georgia isn't fully in line with federal numbers. Sometimes in the s/w it would be very specific and say in 2021 I could take 7140 instead of 12,740. But other times it said GA isn't up to date and what # do I want to put in without showing me an actual suggested I'm allowed to include letting me manually enter the number. (I had been testing various car prices at the time, redoing a car entry to see how it would affect my tax due before our actual purchase to see what we could save ). It was weird it wasn't consistent in telling me what # I could use for GA instead of the 12,740.
