Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

CCVC AND SEC 179 TOGETHER

gk
Level 5

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

0 Cheers
1 Best Answer

Accepted Solutions
TaxGuyBill
Level 15
4 Comments 4
TaxGuyBill
Level 15

Yes and yes.

gk
Level 5

Thank u

0 Cheers
BobKamman
Level 15

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?  

0 Cheers
gk
Level 5

Thank you sir....

0 Cheers