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rosed07
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Can I claim the EV tax credit and section 179 (or bonus depreciation) on the same vehicle in the same year?

Purchasing an electric vehicle over the 6,000 lbs GVWR limit to place in service for a small business.  Can I take both the 179 (or bonus depreciation) and EV tax credit for the same vehicle?  
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2 Replies

Can I claim the EV tax credit and section 179 (or bonus depreciation) on the same vehicle in the same year?

yes.  remember the ev credit reduces tax basis which will reduce the amount available for depreciation.

Can I claim the EV tax credit and section 179 (or bonus depreciation) on the same vehicle in the same year?

As in the tax basis for the vehicle itself or like my total tax basis. 

so if my car cost $50,000 do I have to depreciate as if it’s $42.5K

 

or

 

if I owe $10,000 of taxes I now have $2.5K left for my car depreciation?

 

 

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