MarilynG1
Expert Alumni

Deductions & credits

Are you claiming Vehicle Expenses for a Business?  If so, you can claim Actual Expenses this year and claim the new transmission as a Vehicle Expense.

 

If you use the vehicle 100% for Business for instance, you can claim 100% of the expense; or allocate according to your Business Use %.

 

However, you could also set up a separate asset for the transmission.  Either way is acceptable, depending on what works best for you.  You can select five-year property, same as a Vehicle. 

 

Here's more info on Business Assets. 

 

Here's more info on Business Vehicle Expenses. 

 

 

 

 

 

 

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