You'll need to sign in or create an account to connect with an expert.
If your LLC is single-member (or husband & wife in a community property state) and you're reporting income & expenses on Schedule C as a disregarded entity, then the vehicle does not have to be in the LLC name for you to take depreciation. In effect, you are the LLC for tax reporting.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Idealsol
New Member
c0ach269
Returning Member
sidneyd37
New Member
user17524923356
Level 2
flin92
New Member