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New Member
posted Feb 3, 2023 4:43:50 PM

I purchased a truck in Aug 2021, used it personally, and then became a Sole Proprietor in March 2022. Can I claim my truck as a DIEP?

0 3 348
3 Replies
Moderator
Feb 3, 2023 5:16:22 PM

No. You can’t claim your truck as DIEP, as you already owned it. You can’t claim DIEP on an asset that you have already been using for another purpose.

New Member
Feb 3, 2023 5:24:22 PM

Could it qualify for Accelerated Investment Incentive or do the same rules apply?

Thank you in advance!

Moderator
Feb 3, 2023 5:42:03 PM

Yes, the same rule applies for the Accelerated Investment Incentive.