mattgutz
Level 4
The client bought and sold his food truck in 2021.  Does this still need to run through the depreciation schedule?
0 Cheers
Terry53029
Level 15
Level 15

Even if all requirements to depreciate property have been met, you cannot depreciate property placed in service and disposed of in the same year. See pub 946. https://www.irs.gov/pub/irs-pdf/p946.pdf