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New Member
posted Dec 10, 2019 7:47:19 AM

Is there a tax write off for 2019. A new law for business to write off 100 percent for a new to me vehicle over 6000 lbs. Will this work for me?

I have 5 rental Properties.

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2 Replies
Level 15
Dec 10, 2019 7:54:04 AM

What kind of business entity it this ?   

Did the business buy the vehicle or did you personally ?   

Are you an employee of the business ? 

Not applicable
Dec 10, 2019 9:55:32 AM

a 100% deduction might be available but you are going to have to tell the IRS that you only use this only for the rental properties - no personal use.        you are going to need written records to substantiate this use.   (the first question is really supplying the mileage  - total, business and non business which would have to be zero.   then you are going to have to answer a question about maintaining records.   

finally you are going to have to allocate the deduction among the properties.  

 

 

 

a 100% writeoff for 100% business use of a qualifying vehicle goes back years. there is no new law.