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Business & farm
No. If the company is not yet operating, you cannot take a deduction for it.
When it does start operating, then you can enter the trucks as assets and the other start up costs as start up costs. So if you actually begin operations this year, you would be able to enter the truck as an asset on your 2025 return and deduct the start up costs on your 2025 return.
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‎April 9, 2025
10:29 AM