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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4106
Experience:  35 years tax experience, including four years at a Big 4 firm.
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Mid year 2015I donated a car that I had used for business to

Customer Question

hi Pearl, mid year 2015I donated a car that I had used for business to a charity. I don't want to claim anything other that I got rid of the car.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I donated the car to a charity. when filling our my schedule C business expenses I state this in the vehicle expenses
JA: Is there anything else important you think the Accountant should know?
Customer: yes. but I am stepping thru it now to explain where I am confused
Submitted: 1 month ago.
Category: Tax
Expert:  PDtax replied 1 month ago.

Hi from just answer. I'mCustomer I'll assist.

All you have to do is treat the removal of the car from your depreciation records as an abandonment, and your depreciation will be correct for 2015. What you do with the car after that, a donation, could be reported as an itemized deduction of you qualify and choose to do so.

If you choose not to claim the charitable donation, then you're done.

Thanks for asking at just answer. Positive feedback is appreciated. I'mCustomer

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