CAN I TAKE THE FET AS A TAX EXPENSE OR DO I HAVE TO DEPRECIATE THIS?

[shf1957]

Client traded in a big westernstar for a newer one.  I plan to take the depreciation on the truck.  Is it allowable to take the Federal Excise Tax (FET) as a tax expense?  Or do i have to depreciate this?  

[IRonMaN · Accepted solution]

All costs incurred to acquire an asset get capitalized