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March 15, 2020
Question

Business Asset

  • March 15, 2020
  • 1 reply
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I purchased a business asset in December 2019, but did not take delivery until January 2020.  Can I still take the credit in the year purchased?  If not, will I be able to take it this years (2020) taxes?

1 reply

March 15, 2020

Yes, you will need to enter in 2020 because that is when it was "placed in service".