Hi,
Question similar to: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/is-it-possible-to-depreciate-an-...
My 2001 Honda bought in the year 2006 I used for 100% personal use until the End of Year 2021. For the year 2022, I started a new business and used the same care 80% of the time/distance. The value of the car was ~$2500 per KBB.
1. Can I depreciate the car in the year 2022? Please note that I had the car for personal use for ~14 years prior to moving it for using for business. With economy going as it has, made no sense to buy a car for business until it takes off.
2. If yes, what value / method should I use to estimate for depreciation?
Thanks
