@ForbidInjustice wrote:
So what has caused depreciation for this year to still be 0? Simply because I did not take the bonus depreciation that I should have?
Is it best to just fill out a 1040X on my own if I choose to amend? This 2023 return (extension) is due in 6 weeks so I don't have time to wait on them to process it before I submit the 2023.
It is an odd quirk in the law for vehicles under 6000 pounds. The IRS created a work-around for vehicles that qualify for 100% bonus depreciation, but that work-around isn't allowed when you also take Section 179. You should take one or the other.
Yes, you could amend. There is no need to wait to file 2023 until the amended 2022 return is processed. Just file 2023 based on the amended 2022. But it is too late to elect out of Bonus now, so the only option would be to amend to remove Section 179 (and only use Bonus). The end tax result for 2022 is likely the same, but it would allow you to use the work-around rule and depreciate it in 2023 and the next several years.
