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bandb2
Level 5
Apr 14, 2025 12:59 PM UTC
Question

basis

Taxpayer bought a truck for $80,000,got a $4,000 incentive credit and dealer redeemed EV credit of $7,500 . Is the basis for section 179, $80,000, $76,000 or $ 68,500? Thanks

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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    Apr 14, 2025 5:51 PM UTC

    Start with what he actually paid. Sounds like $68,500.

    The more I know the more I don’t know.
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