I bought my carin 04/2016 and used it for personal use until I started self emp. at Grub hub in 09/2017 can I still claim the depreciation tax credit on the vehicle?

[tomparonett]

*car *in

[MichaelDC · Accepted solution]

Yes. Start to depreciate 09/2017 using the Fair Market Value of the car as of that date. Generally, that's the price a willing buyer would pay a willing seller, assuming neither party is being forced to buy/sell and both parties have reasonable knowledge about the condition of the vehicle.

The most accurate method is to look for private party ads for similar vehicles for sale in your area. If you can't find sales ads for similar vehicles, you can use industry pricing guides like Edmunds or Kelley Blue Book.

[tracie314]

TURBOTAX WILL CHARGE YOU $80.00 to do the DEDUCTIONS!! SCAM Go to H&R Block it wont charge you NOTHING it will be 100% Free. Being doing my taxes with TURBOTAX since 2011. NOT THIS YEAR. Went to HR BLOCK STILL FREE. I drive for GRUBHUB and UBER also