gk
Level 5
03-28-2024
12:23 AM
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Hi,
Need help on this, one of my client bought Model Y under his LLC . I took Commercial Clean Vehicle Credit (CCVC) of $7500. Can i take Sec 179 for the same SUV in same year, if yes do i need to reduce $7500 from basis. Kindly reply
GK
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TaxGuyBill
Level 15
03-28-2024
10:39 AM
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Yes and yes.
gk
Level 5
03-28-2024
12:16 PM
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Thank u
BobKamman
Level 15
03-28-2024
12:24 PM
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And of course it's 100% business use, because it always is. But for the rare taxpayer who has only 80% business use, does the $7,500 come off the total cost, or 80% of the cost?
gk
Level 5
03-28-2024
12:36 PM
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Thank you sir....