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On April 5, 2023, Kinsey places in service a new automobile that cost $65,000. He does not elect 179 expensing, and he elects not to
On April 5, 2023, Kinsey places in service a new automobile that cost $65,000. He does not elect 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 85% for business and 15% for personal use in each tax year. Kinsey uses the regular MACRS method of cost recovery (the auto is a 5-year asset)
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