Vehicle Deduction Sec 179



I operate a S Corp bookkeeping business that I am the only
shareholder. I purchased a new vehicle with my personal
checking and is titled under my name not under the S Corp.
I use the vehicle 80% for the S Corp business time.

Can I deduct the 80% business use and the Section 179 on my
personal 1040 return eventhough the business income flows to
me through the S Corp? Do I use a 1040 Sch C and form 4562
to do this?

Thank You


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question