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Using vehicle for 2 businesses: started using for 1st biz in 2018; for 2nd biz in 2023. What "started using for biz" date to enter for 2nd biz's vehicle expense/deprec?
I'm trying to expense a single vehicle for 2 separate business that were started years apart. I've already been expensing the vehicle for the 1st business on taxes. Do I use the exact same date for "When did you place your vehicle in service for business purposes" for BOTH business, specifically, do I use the 2018 "vehicle use start date" as the "vehicle start date" for the 2nd business which began in 2023?
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‎April 5, 2024
8:20 AM