topic I was given a new car Sept 4/15 and I use it for my business. Can I do depreciation on it and if so, how? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-was-given-a-new-car-sept-4-15-and-i-use-it-for-my-business-can-i-do-depreciation-on-it-and-if-so/01/894611#M911 Wed, 30 Oct 2019 06:29:22 GMT asifitweremyown 2019-10-30T06:29:22Z I was given a new car Sept 4/15 and I use it for my business. Can I do depreciation on it and if so, how? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-was-given-a-new-car-sept-4-15-and-i-use-it-for-my-business-can-i-do-depreciation-on-it-and-if-so/01/894611#M911 Wed, 30 Oct 2019 06:29:22 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-was-given-a-new-car-sept-4-15-and-i-use-it-for-my-business-can-i-do-depreciation-on-it-and-if-so/01/894611#M911 asifitweremyown 2019-10-30T06:29:22Z Determine the fair market value of the vehicle as of when... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/determine-the-fair-market-value-of-the-vehicle-as-of-when/01/894613#M912 Determine the fair market value of the vehicle as of when you started using it for business and enter that amount as the cost of a new vehicle aquisition.  If the cost was $30K or less record the asset as Class 10.  If the cost was greater than $30K then record the cost as $30K plus sales tax on $30K and the class is 10.1 Wed, 30 Oct 2019 06:29:23 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/determine-the-fair-market-value-of-the-vehicle-as-of-when/01/894613#M912 TurboTaxJeffrey 2019-10-30T06:29:23Z
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topic I was given a new car Sept 4/15 and I use it for my business. Can I do depreciation on it and if so, how? in Investors and rental owners
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-was-given-a-new-car-sept-4-15-and-i-use-it-for-my-business-can-i-do-depreciation-on-it-and-if-so/01/894611#M911
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I was given a new car Sept 4/15 and I use it for my business. Can I do depreciation on it and if so, how?
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-was-given-a-new-car-sept-4-15-and-i-use-it-for-my-business-can-i-do-depreciation-on-it-and-if-so/01/894611#M911
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Determine the fair market value of the vehicle as of when...
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Determine the fair market value of the vehicle as of when you started using it for business and enter that amount as the cost of a new vehicle aquisition.&nbsp;&nbsp;If the cost was $30K or less record the asset as Class 10.&nbsp;&nbsp;If the cost was greater than $30K then record the cost as $30K plus sales tax on $30K and the class is 10.1
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