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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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On March 31, 2015 bot a new vett and traded in another car

Customer Question

On March 31, 2015
bot a new vett and traded in another car on it.
undepreciated value of trade in was 45,000
cost of new vett 70,000
how do i compute depreciation to get as much as possible?
Section 179
Bonus Depreciation
Submitted: 1 year ago.
Category: Tax
Expert:  Jason M. Tyra, CPA replied 1 year ago.

Hi Jack-

Were these vehicles business assets or were they for personal use in 2015?