Designating all 2021 Bronco as 2022

[toystwo]

Occam's razor: The most obvious and simple answer is often the most accurate.

• Recording revenue/income
• Tax liabilities
• Reporting sales
• Dealership contracts and requirements
• Compliance of all NHTSA standards by model year
  • NHTSA Regulations search function

None of that changes one whit whether Ford calls it a 2021 or 2022.

And yes in 3 years if you go to trade your Bronco an identical mile 2022 will be worth more than a 2021. No one adjusts for early or late model year starts. Ask any dealer.

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[Rick Astley]

None of that changes one whit whether Ford calls it a 2021 or 2022.

And yes in 3 years if you go to trade your Bronco an identical mile 2022 will be worth more than a 2021. No one adjusts for early or late model year starts. Ask any dealer.

Not with modern cars they dont want the older year, and for good reason! Get into cars actually worth something when used (ie: pre ~1975) and things start to get saucy when taking exact build date into consideration. I heard a rumor that a 1964 1/2 Mustang is worth more than a 1965 Mustang, could be wrong.

Talking only modern cars though, you get the accelerated depreciation if it's a business vehicle so you're better off having that MY21 vehicle in 2021 when you go to talk nicely to the IRS. There are always variables!

 

[centra28]

Call it 2022, 2012 or 2021 . . . just let me know when I can drive it home.

2022

 

[toystwo]

I heard a rumor that a 1964 1/2 Mustang is worth more than a 1965 Mustang, could be wrong.

You realize that a 1964 1/2 Mustang is a 1965 right? 1964 1/2 is a informal designation for early production (starting in April 1964) 1965 Mustangs. But sure, certain model years of collectible cars end up being worth more than others (but that works both ways, sometimes it’s later models that are more valuable). All that is beside the point, we’re not talking about values decades from now.

Talking only modern cars though, you get the accelerated depreciation if it's a business vehicle so you're better off having that MY21 vehicle in 2021 when you go to talk nicely to the IRS. There are always variables!

Now your completing changing your original arguments - none of the things you originally listed impact Ford whatsoever in regards to whether a model is called a 2021 or 2022.

I was not aware that the model year of an automobile had anything to do with end buyer’s accelerated depreciation but I’m no expert there so I’ll defer to your knowledge.

 

[Rick Astley]

You realize that a 1964 1/2 Mustang is a 1965 right? 1964 1/2 is a informal designation for early production (starting in April 1964) 1965 Mustangs. But sure, certain model years of collectible cars end up being worth more than others (but that works both ways, sometimes it’s later models that are more valuable). All that is beside the point, we’re not talking about values decades from now.



Now your completing changing your original arguments - none of the things you originally listed impact Ford whatsoever in regards to whether a model is called a 2021 or 2022.

I was not aware that the model year of an automobile had anything to do with end buyer’s accelerated depreciation but I’m no expert there so I’ll defer to your knowledge.

No, a '64.5 Mustang is a '64.5 Mustang and commands a healthy premium over the '65. It identifies a very narrow production range and has exclusivity.

Not that it will matter for Bronco, as if people are going to be able to replace any of the sensors, screens, or telemetry on it 10 years after it's out of production (when the federal requirement to stop producing replacement parts ends).


If you purchase a new vehicle you can report the accelerated depreciation in the year the vehicle was purchased. Tax year and MY vary slightly, however, to avoid IRS scrutiny, it's best to try and match MY to tax year. (source: https://www.irs.gov/pub/irs-drop/rp-20-37.pdf)

 

[toystwo]

No, a '64.5 Mustang is a '64.5 Mustang and commands a healthy premium over the '65. It identifies a very narrow production range and has exclusivity.

It defines an early production 1965 model year Mustang which had some trim differences from later production 1965 Mustangs. There is no Mustang that is titled 1964 1/2. The title on everyone of those vehicles reads exactly the same - 1965.

If you purchase a new vehicle you can report the accelerated depreciation in the year the vehicle was purchased. Tax year and MY vary slightly, however, to avoid IRS scrutiny, it's best to try and match MY to tax year. (source: https://www.irs.gov/pub/irs-drop/rp-20-37.pdf)

So a business can claim accelerated depreciation for a 2022 model placed in service in 2021. Makes much more sense to me.

 

[Rick Astley]

It defines an early production 1965 model year Mustang which had some trim differences from later production 1965 Mustangs. There is no Mustang that is titled 1964 1/2. The title on everyone of those vehicles reads exactly the same - 1965.

So a business can claim accelerated depreciation for a 2022 model placed in service in 2021. Makes much more sense to me.

Sounds like you have a few experiences buying first-run Mustangs. I've had the opposite experience where if you're willing to shell out the extra coin for a 64.5, it's because it's a 64.5.

As for depreciation: I'll let you figure out your tax return as your post is either antagonizing or failed to take IRS regs into consideration.

 

[elnorte]

I guess the forum search function stopped working in 2012.

To be fair the forum search feature is a bit lacking.

 

[toystwo]

As for depreciation: I'll let you figure out your tax return as your post is either antagonizing or failed to take IRS regs into consideration.

I’m not taking a business deduction on a Bronco purchase but I didn’t see anything in your attachment that spoke to Model Year.

And of course all of this is down the rabbit hole from the statements in your orginal post regarding why Ford wouldn’t designate the Bronco a 2022 instead of 2021.

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