Monthly Archives: October 2020

At the end of 2023, you had an unrecovered basis of $14,565 ($31,500 − $16,935). If in 2024 https://backinsights.com/professional-real-estate-bookkeeping/ and later years you continue to use the car 100% for business, you can deduct each year the lesser of $1,875 or your remaining unrecovered basis. The following examples illustrate whether the use of business property… Reads more »