Thank you. We meet all the eligibility requirements based on the information in the article. I, the shareholder in our LLC, had income from the LLC. This is our only equipment purchase for the year, so we don't come close to the maximum threshold. The vehicle is not used for a rental property business - our business is construction.
I do not want to take the entire deduction this year, but I do want the option to take the remaining deduction later. If I don't take it now, then I won't be able to take it later. Am I having issues with the percentage of usage based on when I purchased the vehicle (Oct. 2022) and TT is calculating my percentage of use as zero for the first half of the year? Based on mileage, I used the vehicle 78% (2762 miles out of a total of 3554 miles) for business, but TT is calculating the use as 30.8%. I took a similar deduction in 2019 for a vehicle purchased in November and didn't have this problem because the mileage rate was the same for the whole year. Do I need to distribute the mileage across the whole year instead of placing it all in the second half of the year?
Thanks again!
