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J
jbroseorg
January 18, 2025
Question

I bought a Jeep intending to put it on Turo. It was broken and took all year to make all the repairs, so I was never able to rent it out. What deductions can I take?

  • January 18, 2025
  • 1 reply
  • 0 views
I set up an LLC when I bought the Jeep, but I purchased the vehicle personally because the LLC didn't have credit.

    1 reply

    A
    AmeliesUncle
    January 18, 2025

    If it was never available to be rented in 2024, there are no business deductions in 2024.

    J
    jbroseorgAuthor
    January 20, 2025

    I appreciate your response. Under what circumstances could the business have taken a write-off for faulty equipment?

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