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Deductions & credits
Yes, you may, but for a Vehicle, bonus depreciation is a better option if you want to maximize your deduction. By the law changes put in place by the Tax Cuts and Jobs Act, Section 179 on a vehicle is limited to $10,000. But by claiming bonus depreciation, you can increase the first year deduction to $18,000. Please see this website from the IRS for additional information: Bonus
Depreciation on Vehicles
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‎June 4, 2019
8:15 PM