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Residual value of a used car after depreciation completed
Posted: Mon Feb 10, 2025 8:29 am
by Seasider4374
So, two and half years ago I bought a used car that I use(d) 50-50 between personal and business use. And so for tax 2024 I can depreciate the vehicle for it's final 6 months' of business use.
I believe I can't depreciate the cars value to zero, but what is the limit of a used cars residual value? 1yen, 10yen, 100yen, 1000yen?
Re: Residual value of a used car after depreciation completed
Posted: Mon Feb 10, 2025 11:54 pm
by ChapInTokyo
Seasider4374 wrote: ↑Mon Feb 10, 2025 8:29 am
So, two and half years ago I bought a used car that I use(d) 50-50 between personal and business use. And so for tax 2024 I can depreciate the vehicle for it's final 6 months' of business use.
I believe I can't depreciate the cars value to zero, but what is the limit of a used cars residual value? 1yen, 10yen, 100yen, 1000yen?
I have no idea! But
this blog page on the moneyforward site might help you.
確定申告で自動車購入費用を経費にする方法や仕訳を個人事業主向けに解説！新車と中古車の減価償却の違いが分かる
(Explanation for sole proprietors on how to make car purchase costs into expenses in a tax return! You can understand the difference between depreciation of new and used cars)
