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Lev, Tax Preparer
Category: Finance
Satisfied Customers: 29771
Experience:  Personal Investment, Tax Preparation
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In the first year of operating a business can depreciation

Customer Question

In the first year of operating a business can depreciation expense exceed total revenue? For example and individual purchases a truck for business use and wants to depreciate it.
Submitted: 1 year ago.
Category: Finance
Expert:  Lev replied 1 year ago.
Regular depreciation is not limited by the revenue.
Expert:  Lev replied 1 year ago.
However - if you are going to claim section 179 depreciation - that is limited by business income - so if there is no business income - section 179 deduction would not be allowed..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.