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Tax - MACRS Section 179 and Bonus Depreciation, 3 of 3

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DEB HECKMAN . 2019-02-07
Last year I took 50% depreciation with turbo tax.This year it carried over the whole cost basis(the original price). This video seems to be saying that only the half of the cost basis should have been carried over. Anyone know for sure
121 2 . Reply
Dee Brown . 2018-07-12
Hello. I have a couple of questions that I'm still unsure about. In order to use Sec. 179, If you're under contract (job only needs you to work for a year), can you use it? Do you have to have a LLC, S-Corp or C-Corp? Do you have to have a business to use Sec. 179 or can you just buy a vehicle that qualifies for this? If you have to have a business in order to use Sec. 179, what is considered job-related vehicle expenses? How long can you use Sec 179 (up-to 5 years or more)? If I were to buy a vehicle such as a Range Rover, and sell it after the first tax year what happens? Thank you in advance.
121 2 . Reply
23rd Hour . 2018-04-03
Best explanation I found so far, thank you!
121 2 . Reply
Nata Nata . 2017-10-24
Thank you! Very well explained.
121 2 . Reply
Sergey Singov . 2017-09-01
The video said both, the deduction can and can not be carried forward. So, I am confused, which one is correct? Could you please give an example of each case?
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