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C
cgcrump2
May 18, 2022
Question

I owe taxes company sale, will owe capital gains on the whole $1MM Could I purchase a car wash for $1MM bonus deprec the full amount in thus emliminate taxes on the $1MM

  • May 18, 2022
  • 1 reply
  • 0 views
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1 reply

M
Mike9241
May 18, 2022

see a tax pro who can go over your situation.  part of the purchase price may not be eligible for bonus depreciation - the land, goodwill, and other items. 

    S
    SweetieJean
    Employee
    May 18, 2022

    Please consult with your TT Live rep.

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