Major purchases include:A motor vehicle (including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van, and off-road vehicle)An aircraft or boatA home or substantial addition to or major renovation of a home

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Kendalls-Mom

Solved

Can you claim a personal golf cart as a major purchase?

Forum|Forum|6 years ago
June 3, 2019
3 replies
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TurboTax Premier Online

Best answer by Vanessa11_2

If you are asking if you can claim it to deduct the taxes paid on it as a major purchase, yes.

Otherwise, a personal golf cart purchase is not tax deductible.

Vanessa11_2Answer

Employee

If you are asking if you can claim it to deduct the taxes paid on it as a major purchase, yes.

Otherwise, a personal golf cart purchase is not tax deductible.

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Kendalls-MomAuthor

YES! That’s what I meant...the sales tax. THANK YOU!

SweetieJean

Employee

Major purchases include:

A motor vehicle (including a car, motorcycle, motor home, recreational vehicle, sport utility vehicle, truck, van, and off-road vehicle)
An aircraft or boat
A home or substantial addition to or major renovation of a home

casirendl

So how would you write that óff . We had major up upgrade to our house do to an insurance claim is that the same.

We also did major work on our cottage for our business. Getting everything to get her for inspections and spending this and that for materials supplies. Can it be written off that way. Our car is used for 45 percent of the business.

casirendl

I have a Small Business. I use my golf cart for my customers on my property. They can use it to get around the lake or around the 32 acres we have. How can I use the for a tax write off if it is considered a major appliance? Or can I?

Can I sell my Golf Cart to my business? And if so how? And is it beneficial?

KrisD15

It depends on the structure of your business.

If it is a "Sole-Proprietorship" and you file Schedule C, you can convert it to business use.

A Partner may also contribute property to a Partnership.

It could be beneficial in the aspect that (depending on the ratio of business use to personal use) the golf cart could be depreciated which would offset profit. There are other ramifications, such as possibly recapturing depreciation, but if you plan to use the golf cart until it falls apart, depreciation recapture would not be an issue.

Click here for more information about Business Assets.

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casirendl

Thank you very much. That helped a lot. So my business is a sole propier converted to LLC. Now I was in the middle of changing all that when the year ended and gain an employer during that time. Would that still need to file a schedule C. As of right now trying to work with. A tax experts to get the best put come and with ADP Who handles my payroll. I have 1099s I am waiting for since I started my business in 22 but legally it didn't become formed until July 23. Now I believe we bought it for my husband in 20 or 21. So it definitely has depression on it. So I am thinking adding it to it would be a good avenue. Just we just fixed it up for customers also. Figured that would be a great selling point on our rental properties. If you have anymore advice. That I should know or be aware of that would be amazing to hear as well as appreciated. Thank again for the quick response.