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Section 179 for depreciation of passenger vehicles
Turbo Tax allowed me to take the full cost of a new vehicle purchased and placed in service for my business in 2022 however, the code states there are limits on this. $11,200 is the limit in year one or $19,200 if you take the special depreciation allowance. Is this a glitch in Turbo Tax? I am using Turbo Tax Home & Business.
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‎April 2, 2023
7:14 AM