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May 25, 2022
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Can a client capitalize a company truck cap for $4k?

  • May 25, 2022
  • 1 reply
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It protects company supplies/equipment & adds resale value to the truck but I'm not sure if that qualifies it as being more than an accessory.

Best answer by Rustler

If you installed the truck cap when you purchase the truck, yes it is part of the truck cost.  Otherwise You can add it as an addition to fixed assets, and then capitalize it (annual depreciation).

 

Make a new sub account named for the cap, I would make it a sub account of the truck it is on

1 reply

Rustler
RustlerAnswer
May 27, 2022

If you installed the truck cap when you purchase the truck, yes it is part of the truck cost.  Otherwise You can add it as an addition to fixed assets, and then capitalize it (annual depreciation).

 

Make a new sub account named for the cap, I would make it a sub account of the truck it is on