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Self employed
Hi! I am a TurboTax Live CPA. You will be only able to use Section 179 for new property to the business so it is possible to use it if you acquire a used vehicle. That being said, given the lower basis generally of a used vehicle it would be wise to make sure that 179 will result in the biggest tax savings since you would have to forgo the standard mileage rate.
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‎October 27, 2021
9:14 AM
1,166 Views