I have a car that was placed into service on 1/5/13 and I'm trying to determine how much depreciation should be claimed for 2015 and 2016. The person who prepared the tax returns in 2013 and 2014 used the 200DB HY Method and a 5 year recovery method. Under "cost or other basis" , they have $28,124. Note: This is a used car (2009).
In 2013, the percentage of use for business purposes was 69.27%, and the depreciation deduction was $2,189. (Basis for depreciation - business investment use was $19,481)
In 2014, the percentage of use for business purposes was 76.51%, and the depreciation deduction was $3,902. (Basis for depreciation - business investment use was $21,518)
In 2015, the percentage of use for business purposes was 72.83%.
In 2016, the percentage of use for business purposes was 53.62%.
Based upon the information provided, is it possible to determine what amounts should be deducted for 2015 and 2016? If not, what additional information is needed. Your feedback would be greatly appreciated.
In 2013, the percentage of use for business purposes was 69.27%, and the depreciation deduction was $2,189. (Basis for depreciation - business investment use was $19,481)
In 2014, the percentage of use for business purposes was 76.51%, and the depreciation deduction was $3,902. (Basis for depreciation - business investment use was $21,518)
In 2015, the percentage of use for business purposes was 72.83%.
In 2016, the percentage of use for business purposes was 53.62%.
Based upon the information provided, is it possible to determine what amounts should be deducted for 2015 and 2016? If not, what additional information is needed. Your feedback would be greatly appreciated.
