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Deductions & credits
This is very misleading. Section 179 allows for new or used vehicles (as long as new to you) to be deducted using section 179. I bought a truck in 2022 that had 3k miles on it but was new to me. If I select the vehicle was "not new" it removes section 179 deduction and increases my federal tax due substantially. If I select this vehicle was in fact new it allows for the full section 179 deduction.
Please advise.
‎October 13, 2023
9:40 AM