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April 15, 2024
Question

Listing Fully Depreciated Vehicle

  • April 15, 2024
  • 1 reply
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I have two vehicles that are fully depreciated. I do report expenses on the vehicles. Do I need to list the vehicles on the tax return even though they're fully depreciated. If so, where do I list them?

1 reply

KrisD15
April 15, 2024

Yes, the vehicles should be included on your list of business assets. 

Although they are fully depreciated, you will need that information when they are sold or converted to personal use. 

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