168(k) deduction for a Tesla X

ATS13 · ‎10-28-2022

I have a client that bought a 2022 Tesla X in November 2021. She uses it 100% for business. I am getting confusing info as to how (and how much) she can deduct from her taxes. I initially looked at a Section 179 expense, but I read that a Section 168 would be better. Can I take a Section 168 expense for my client? If so, how do I do it on the Pro Series software?

TaxGuyBill · ‎10-28-2022

When you enter the vehicle on the vehicle worksheet, the checkbox for "Economic Stimulus" is what allows Bonus depreciation (it should highlight as a pink error until you check a box).

dkh · ‎10-28-2022

I'm going to nit-pick....100% business use - really ?? Is there another vehicle this taxpayer uses for their personal transportation?

168(k) deduction for a Tesla X

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