I purchased a Tesla Model Y in June/2023 and more 50% using for my business. Should I select one-time special depreciation or if not then how many allowable years that the car would be depreciated?
If I take one-time special depreciation, then how would I have the vehicle deduction for next year and so on?
Thank you!
Cars are 5 year properties. If you use the 80% special depreciation this year then the remaining 20% will be spread over 6 tax years.
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