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For new and pre-owned vehicles put into use in 2020 (assuming the vehicle was used 100% for business):
However, you may have a Depreciation Recapture later, when you sell/trade the vehicle or stop using it for Business.
When you enter your Vehicle as an asset in the Rental section, you will be asked for your choice (in the first year you started using it for Business).
Click this link for more info on Business Use of Vehicles.
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