• Identify the types of work-related car and truck expenses that may qualify for deduction by a taxpayer and the available general methods that may be made to claim those expenses
• Identify the types of deduction that a taxpayer may qualify to claim under the heading of depreciation for a car or truck that the taxpayer uses for business purposes
• Identify situations and circumstances where a taxpayer may have to recognize a gain or loss on the disposition of a vehicle that has been used for business purposes
• Given appropriate taxpayer records, correctly calculate the taxpayer's available deduction for motor vehicle expenses and identify the correct form(s) for reporting the deduction to the IRS
• Identify the main characteristics of the vehicles that may qualify for each of the three motor vehicle tax credits that were available during the 2023 tax year

Tax Year: 2023

CPAs, EAs, and other tax professionals