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basis

bandb2
Level 1

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 Comment 1
sjrcpa
Level 15

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


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