How do I depreciated a used vehicle, used less 50% for business
I bought a used car for personal use in 2004 for $4000. I placed it in service in 8/08 for 1 month as a housing inspector. I placed it in service again when I started a new job in 12/09 as an merchandiser.My mileage for 2009 couldnt have been more than 30. I have always used it less than 50% of the time for business. My total mileage for 2010 was 12115 miles, only 1327 miles for business. I understand I need to use the straight line method. But for the life of me I cant figure it out. Please help me!!!
Last edited by MsKimm : 02-25-2011 at 04:33 AM.