Bonus depreciation on farm truck.

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • GMA
    Junior Member
    • Oct 2015
    • 1
    #1

    Bonus depreciation on farm truck.

    Can you take bonus depreciation on new farm truck purchased Nov 2014 on 2014 tax return
    Tags: None
    • Roland Slugg
      Senior Member
      • Aug 2006
      • 1860
      #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."

        Comment

        Previous template Next

        Disclaimer

        Collapse

        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

        Working...