dude7707
Level 5

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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