Hi everyone,

I have an interesting situation with one of my clients and am having trouble finding an answer. The purchased a vehicle with a cost of $55K. This vehicle is >6,000 lbs and qualifies for a 100% deduction in the first year. However, before the deduction my client only has net income of $63K. If I deduct the entire vehicle in the first year I will be leaving much of his standard deduction on the table.

Am I allowed to "limit" the amount of depreciation using the "Current Special Depreciation Allowance" box in ProConnect? I did the math. If I only deduct $43K I will get to use the entire standard deduction AND have depreciation left over for future periods.

Thanks in advance!