2737526
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cgcrump2
New Member

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

see a tax pro who can go over your situation.  part of the purchase price may not be eligible for bonus depreciation - the land, goodwill, and other items. 

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

Please consult with your TT Live rep.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question