Friday, February 12, 2010

Tax On A Used Trailer In Ontario How Do I Apply Yearly Depreciation For My Tractor Trailer On A Form 1040 Schedule C?

How do I apply yearly depreciation for my tractor trailer on a form 1040 schedule c? - tax on a used trailer in ontario

I am an independent contractor and the receipt 1099th I pull all the costs such as fuel, tools, repairs, maintenance. I use the standard mileage reduction. I use Turbo Tax and the area a bit confusing

1 comment:

  1. Depreciation is complicated. Trailers belonging to 5 years 'GDS'.

    Read this:
    Publ 946 How to recover and
    http://www.irs.gov/pub/irs-pdf/p946.pdf

    http://www.irs.gov/pub/irs-pdf/i4562.pdf

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