Can you claim special depreciation on a 10 yr old vehicle in its first yearf business use in 2024
XavierHarris2020
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Can you claim special depreciation on a 10 yr old vehicle in its first yearf business use in 2024
Answers
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XavierHarris2020,
That is a great question!
You can claim a special depreciation allowance on a vehicle converted from personal to business use. However, for the vehicle to qualify, the vehicle must have been acquired after September 27, 2017.
For more information regarding the special depreciation allowance, see Chapter 3 of Publication 946.
