Car depreciation by purchase and sale within one year is tax deductible

Publication date: 16/06/2008

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Judgement of BFH (Federal Finance Court) of 22/04/2008, file number: IX R 29/06

The disposal of a used car within one year after acquisition is taxable according to 23 paragraph 1 clause 1 No. 2 EStG (Income Tax Act). The law registers, differently than former versions of the Income Tax Act, all assets in the private fortune. In this case, a used car is, as a physical object, a thing and there an asset.

Category: Tax Law, Consumer Law

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