CCVC AND SEC 179 TOGETHER

[gk]

Hi,

Need help on this, one of my client bought Model Y under his LLC . I took Commercial Clean Vehicle Credit (CCVC) of $7500. Can i take Sec 179 for the same SUV in same year, if yes do i need to reduce $7500 from basis. Kindly reply

GK

[TaxGuyBill · Accepted solution]

Yes and yes.

[gk]

Thank u

[BobKamman]

And of course it's 100% business use, because it always is.  But for the rare taxpayer who has only 80% business use, does the $7,500 come off the total cost, or 80% of the cost?  

[gk]

Thank you sir....