jklcpa Posted April 14, 2009 Report Share Posted April 14, 2009 Landscaping business, a partnership, purchased an '07 Chevy 3500HD 4WD with reg cab. It has a dump bed on the back, seating for 2 or 3 passengers (not sure if it's bench or bucket seats), no seating behind driver, 100% business use. Chevy calls this heavy duty, and I know this truck weighs over 6000 lbs, but I don't think it heavy duty for IRS definition because I don't think it weigh over 13K unloaded. I am always confused over how to classify this. Is this just 5 yr listed property (vehicle)? Does it qualify for the 50% bonus deprec without limitations? Cost was almost $35,000. Could I use sec 179 for the full price, or is it limited? I think my head might explode... Quote Link to comment Share on other sites More sharing options...
ljwalters Posted April 15, 2009 Report Share Posted April 15, 2009 Dump truck clasification in asset Entry would be V-vehicle and 4 subcategory 5yr heavy duty turck or OTR Trailer As far for qualifying for bonus depreciation I don't know if it has to be new or if used qualifies. Linda and buddy PS its almot over. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 15, 2009 Author Report Share Posted April 15, 2009 Thanks Linda, It is new even though a 2007 model. They bought a left over from the dealer. Quote Link to comment Share on other sites More sharing options...
ljwalters Posted April 15, 2009 Report Share Posted April 15, 2009 I hope he got a real good deal. My client bought used. But those trucks make him a lot of money. Have a great rest of the year. Linda and buddy Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.