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7 April, 19:15

What is the depreciable period, in terms of the QBI deduction, for a vehicle?

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  1. 7 April, 20:29
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    The QBI stands for Qualified business income. The QBI refers to business income i. e to be qualified and eligible for the deduction. This is the deduction which is applies to the business corp orates i. e sole proprietorship, corporation, etc

    So the Qualified business income for a vehicle could be go for 10 years or the life of the vehicle that could be held for taxable purposes plus it is classified as a depreciable tangible qualified property. As vehicle is a fixed assets and on that the depreciation expense is to be charged
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