My car purchased in 2023 and totaled in 2023. Insurance made a payment at the end of December, but still the payment check is not reached to Finance company. It will be posted in the account in Jan 2024. Since the Loan was outstanding by Dec 31st 2023, shall I take Section 179 deduct for 2023?
In that case, for 2024 taxes I will have the accident date as 2023. Is that Okay?
