Sec 179-smr

[gman]

Client purchased new auto in Dec. Had used smr all year on vechicle traded in.
Am I correct that client can take 179(all conditions met)on new auto and smr
on trade in? Having a large auto deduction for entire year.

Thanks

[Brian EA]

Client purchased new auto in Dec. Had used smr all year on vechicle traded in.
Am I correct that client can take 179(all conditions met)on new auto and smr
on trade in? Having a large auto deduction for entire year.

Thanks

Different auto , different treatment is ok

[Unregistered]

Remember that the exchange basis is not eligible for 179.

[gman]

Thanks

Thanks a lot for your help

[jainen]

calculating adjusted basis

>>Remember that the exchange basis is not eligible for 179.<<

And that standard mileage allowance has a deemed depreciation factor for calculating adjusted basis.