Business & farm


@b_scott003 wrote:

....I have $10,000 profit from the Sole Proprietorship and $100,000 w2 income from another full-time job.....If I buy a $70,000 truck (6,000+ GVWR with 6' or greater inner bed dimensions), I can deduct the full cost of the truck ($70,000 from the $110,000)? 


Yes, you can do so because your W-2 income counts as "business income".