abctax55
Level 15
06-20-2020
10:44 PM
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The SMR *does* have a depreciation component in it; and that component is considered when the asset is sold (is an IRS stated amount per business mile, per year).
https://www.irs.gov/pub/irs-drop/n-19-02.pdf
Using SMR & straight line in the first year DOES allow switching back/forth in subsequent years. In those subsequent years IF actual is chosen (i.e is better such as a year with major repairs) the depreciation is taken using the straight line method.
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