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Discussion Forum Index --> Tax Questions --> Car rental business
DR BRISKET (talk|edits) said:
| 5 December 2006
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| I have a business client who currently sells used cars. He is considering also bringing in a fleet of vehicles that would only be used for rental purposes. Can these specific cars be depreciated? If so, for how long? I don't think they can be considered "Rent to Own" inventory because the rental customer would not be buying the car. The client has indicated these cars would probably eventually be sold. Thanks for any help offered here.
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Deback (talk|edits) said:
| 7 December 2006
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| I would depreciate the rental cars for five years, the same as other cars used for business.
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AJS (talk|edits) said:
| 7 December 2006
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| I agree with Deback and would depreciate adjusted value of those cars for 5 years. If these become unusable or sold take the loss.
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