I bought a Jeep intending to put it on Turo. It was broken and took all year to make all the repairs, so I was never able to rent it out. What deductions can I take?

I set up an LLC when I bought the Jeep, but I purchased the vehicle personally because the LLC didn't have credit.

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If it was never available to be rented in 2024, there are no business deductions in 2024.

I appreciate your response. Under what circumstances could the business have taken a write-off for faulty equipment?

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