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New Member
posted Jun 5, 2019 5:09:43 PM

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
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
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.

New Member
Jun 5, 2019 5:09:45 PM

Thank you! This is very helpful.