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Bought a bobcat for snow removal. Can I depreciate?
Title says it all. I got a bobcat with a deal. Can I depreciate it against the LLC holding the property or against the property itself?
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Ashish Acharya
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
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Of course, you can. Might be able to take 100% depreciation the first year if not elected out. You can elect out if your loss is limited this year, need deprecation other years if you expect to be in the higher brackets, or need more income this year for certain credits.
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