taxpayer auto - Spidell

taxpayer auto

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Message Board taxpayer auto

  • This topic has 1 reply, 2 voices, and was last updated 1 week, 5 days ago by William Dewberry.
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    • #273690
      Anonymous
      Member

      The lone shareholder,  placed in service into the s-corporation in 2019 an auto he already owned. I took a special depreciation on the auto for 2019. Question – can you take a special depreciation on an auto you already own personally and contribute it to your corporation?

    • #273755
      William Dewberry
      Participant

      If you are meaning bonus depreciation, then no you cannot.

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