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Deductions & credits
Thank you for the instructions on locating this in the software.
I'm tempted to indicate I do not want to take this special allowance given the future implications and need to pay portions of depreciation back should the vehicle asset be sold or no longer used in business/Schedule C reporting.
Can anyone actually explain what this special allowance is, and how its calculated (and any risk of having to adjust future years for the sale of a vehicle by taking this up front), or link to an IRS publication ?
Thanks!
March 15, 2025
11:55 AM