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Does depreciation treated differently if S-Corp buys used…

Does depreciation treated differently if...
Does depreciation treated differently if S-Corp buys used car instead of new car?
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Answered in 3 minutes by:
3/13/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help you out.

Prior to late September, 2017, there was a difference due to bonus depreciation. Before September 2017, bonus depreciation was only available to new assets. Going forward it is available to used assets as well. So now there will be no difference between a used and a new car.

Let me know if you need anything else. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
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