Contractors Schedule
How do I apply yearly depreciation for my tractor trailer on a form 1040 schedule c?
I am an independent contractor and I receive 1099 .I deduct all expenses such as fuel,tools,repairs,maintenance. can I also use standard mileage reduction. I am using Turbo tax and this area gets a little confusing
Depreciation is complicated. Tractor trailers are 5-year property, under “GDS”.
Read this:
Publ 946 How to Depreciate Property
http://www.irs.gov/pub/irs-pdf/p946.pdf
http://www.irs.gov/pub/irs-pdf/i4562.pdf
miami general contractors
Tired of LOUSY service? Try Angie’s List.