I bought a car in 2018 for $30,000 and the same year that car got totaled...
I bought a car in 2018 for $30,000 and the same year that car got totaled and I got $20,000 from insurance. Can I put $10,000 as a loss to my taxi business? Please give answers according to US laws.
Homework Answers
Before availing the Depreciation in the first year the car got damaged, so we consider the purchase value instead of Written down value for calculation of profit
and the loss of 10000 can be considered business loss
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I bought a car in 2018 for $30,000 and the same year that car
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please give detailed
explaination, i got 71.56 first and then tried to subtract from
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for it in an interval how do you know where to put it?
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