I wrote off a vehicle last year that I purchased. ...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
wop52
New Member

I wrote off a vehicle last year that I purchased. Looking to purchase another vehicle this year and want to make sure that I can write it off as well.

 
2 Replies
Critter-3
Level 15

I wrote off a vehicle last year that I purchased. Looking to purchase another vehicle this year and want to make sure that I can write it off as well.

There is no restrictions, you can buy a vehicle every year if you'd like.

tygrtchr
Level 7

I wrote off a vehicle last year that I purchased. Looking to purchase another vehicle this year and want to make sure that I can write it off as well.

If you are using the vehicle 100% in your business, it can be "written off" as well.  If you sold the first vehicle or are no longer using it in your business, you will have a few more questions to answer when you get ready to work on the Business section of your 2020 return.  TurboTax will walk you through it.

 

Dynamic AdsDynamic Ads
v
Privacy Settings