So, I bought my car new in 2007 but it was not new when I started using it for my business in 2012. How do I answer this question?
Did you Purchase Your Honda Civic Hybrid New?
Tell us if you bought your vehicle new when you started using it for your business. Yes, I purchased my Honda Civic Hybrid new. No, my Honda Civic Hybrid wasn't new when I bought it.
Seems to me the answer is the latter one, although it WAS new when I bought it, but used when I placed it in service!
Mel
Mel , you have 2 questions there , did you..... and tell us ...... , at any rate I think the intent of the question is cost/expense amortization but I'm not sure ; if it is the intent I'm also not sure what the difference would be for old vs used in an amortization sense for tax purposes ; I think the answer is no if it's one question and no,no if it's two.
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