Must I take bonus depreciation on an entire asset class?
Client with Sch C purchased $96K in 5 year assets, including two > 6000 GWVR trucks. Most expensive truck purchased December so have mid-quarter convention issue. In addition to de minimis safe harbor on small purchases, I took $25K Sec 179 on all non-truck 5 year assets and balance of Sec 179 on December truck because Indiana limits Sec 179 to $25K. I'd like to take bonus depreciation on one of the trucks but not the other because I want to keep Sch C income around $35K.
Question: MUST I take bonus depreciation on ALL 5 year assets that are not Section 179? Or can I pick and choose 5 year assets to apply bonus depreciation?
If I cannot then I will just choose higher Sec 179 for Federal and choose different Indiana depreciation then elect out of bonus for all 5 year property.
Unless someone has a better suggestion?
