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Level 2

Bonus Depreciation and QBI

I started a single member LLC last year and purchased some rental property under the businesses name. I purchased a 6000lb GVWR truck last year to use for the business. Can I report rental property income for the LLC and claim bonus depreciation  on a schedule E on my personal tax return or do I have to file a separate tax return for the LLC business to claim it.  My CPA says I have to file a separate return for the LLC if I want to claim bonus depreciation under the LLC otherwise I cannot. Is this correct?


She said that  I can only claim the bonus depreciation on my personal tax return if the rental income is personal income. This was not my understanding.


She also said I will be able to take the QBI deduction if I file a separate business return.  I thought I could take the QBI deduction for business income on a personal tax return too.


I did my taxes on turbo tax just to compare what the CPA comes up with. Turbo Tax allowed me to write of the entire cost of the vehicle on the schedule E and claim the QBI deduction.

2 Replies
Level 15
Level 2

Bonus Depreciation and QBI

I posted that question after the original question was flagged as spam.