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    • Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
    Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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    Client purchased Volkswagen Touareg. Does this vehicle qualify for special depreciation if purchased for personal use?

    randyjonit
    Level 1
    ‎12-07-2019 04:12 AM
     
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    IRonMaN
    Level 15
    ‎12-07-2019 04:12 AM

    Why are you thinking that you can depreciate a car if it is purchased for personal use?


    Slava Ukraini!

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    IRonMaN
    Level 15
    ‎12-07-2019 04:12 AM

    Why are you thinking that you can depreciate a car if it is purchased for personal use?


    Slava Ukraini!
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    George4Tacks
    Level 15
    ‎12-07-2019 04:12 AM

    No. My guess is the salesperson was explaining IRC 179 deduction for heavy vehicle. This is NOT for personal use. If it wasn't the salesperson, it might have been the barber or the newstalk radio host. 


    Answers are easy. Questions are hard!
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