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- 168(k) deduction for a Tesla X
168(k) deduction for a Tesla X
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ATS13
Level 1
10-28-2022
03:28 PM
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I have a client that bought a 2022 Tesla X in November 2021. She uses it 100% for business. I am getting confusing info as to how (and how much) she can deduct from her taxes. I initially looked at a Section 179 expense, but I read that a Section 168 would be better. Can I take a Section 168 expense for my client? If so, how do I do it on the Pro Series software?
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TaxGuyBill
Level 15
10-28-2022
03:44 PM
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When you enter the vehicle on the vehicle worksheet, the checkbox for "Economic Stimulus" is what allows Bonus depreciation (it should highlight as a pink error until you check a box).
