Can I deduct a down payment of $600 on a depreciable asset as an expense if the rest was paid in 2018?

dan_kurkoski · ‎June 5, 2019

TaxGuyBill · ‎June 5, 2019

If you are depreciating the asset, you can start the depreciation when it is "placed in service" (ready and available for business use), regardless of when it was paid for.

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dan_kurkoski · ‎June 5, 2019

Thank you! This is very helpful.

Can I deduct a down payment of $600 on a depreciable asset as an expense if the rest was paid in 2018?

Deductions & credits

Deductions & credits