jadira1021
Level 3
08-11-2024
11:53 AM
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Hi,
In 2020, I entered a 2005 GMC 5c5 Dump Truck as a vehicle. The cost is $14,000, with special depreciation of $14,000. Actual expenses were selected instead of miles.
In 2021, I am unsure why I deleted the dump truck as a vehicle and entered it as an asset entry. I entered the cost as $14k, selected the type of asset as G, and took section 179 for the $14,000.
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In 2021, I entered a 2000 Isuzu Dump Truck as an asset entry. The cost was $20k. I took section 179, and the type of asset selected as G.
These two dump trucks are used 100% for business.
Thank you for your advice.