Can I deduct a down payment of $600 on a depreciable asset as an expense if the rest was paid in 2018?
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1 Best answer
TaxGuyBill
Level 9
Jun 5, 2019 5:09:44 PM
If you are depreciating the asset, you can start the depreciation when it is "placed in service" (ready and available for business use), regardless of when it was paid for.
2 Replies
TaxGuyBill
Level 9
Jun 5, 2019 5:09:44 PM
If you are depreciating the asset, you can start the depreciation when it is "placed in service" (ready and available for business use), regardless of when it was paid for.