dude7707
Level 5
01-23-2023
03:09 PM
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C Corp purchased 2021 Conquest RV for $67k.
Tax Period: 12.1.20 - 11.30.21
1. Form 4562 - therefore need to answer following q's.
a. Available for personal use during off-duty hours
b. Used primarily by >5% owner or related persons
c. Another vehicle available for personal use.
d. Total miles during the year:
1. Commuting miles
2. Business miles
3. Other personal miles
2. Tax Depreciation method - MACRS - 5 years. - Report on 2020 1120.
Would these q's and tax method and est life be correct?
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