Section 179 of the irs publication:
if i have written the check/paid for the vehicle in 2006 however is it on back order and does not arrive until january 2007, can i take the deduction in 2006???
2007-06-22 12:31:03 · 3 answers · asked by sooo 1 in Business & Finance ➔ Taxes ➔ United States
Judy is correct, but I will also point out that the rules for section 179 expensing a vehicle change in 2007. It isn't just that the vehicle has to be over 6,000 pounds. You can get more info on this at www.irs.gov. search 179 deduction or luxury auto. You should find the new rules.
2007-06-22 16:47:36 · answer #1 · answered by smh60437 3 · 0⤊ 1⤋
The date when you put it into service is the date that counts. So if you don't actually receive it until January, you can't take the deduction for the previous year even if you ordered it and paid for it then.
2007-06-22 19:41:13 · answer #2 · answered by Judy 7 · 2⤊ 1⤋
should be able to as long as you can prove you bought it in 2006
2007-06-22 19:45:13 · answer #3 · answered by elltea 4 · 0⤊ 4⤋