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Bonus depreciation on farm truck.

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    Bonus depreciation on farm truck.

    Can you take bonus depreciation on new farm truck purchased Nov 2014 on 2014 tax return

    #2
    Originally posted by GMA
    Can you take bonus depreciation on new farm truck purchased Nov 2014 on 2014 tax return
    No, I can't, but the taxpayer who purchased the truck can, as long as it is: (1) used in his farming or other business, and (2) is not listed property used less than 50% for business. See the instructions for F-4562, line 14.
    Roland Slugg
    "I do what I can."

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