The original purchase price is fine for the fixed asset – no adjustment necessary – you do not adjust for market value.

But, you should get with a tax accountant.  Taking depreciation expense/accumulated depreciation each year is up to you, doing so reduces the taxable net income.

If you do not take […]

Resolution for '2009 vehicle issue: 'Can I correct a fixed asset account where it shows the original 2009 vehicle purchase price and nothing else? The loan was entered under note payable and is satisfied.' available: Yes.

The 2009 vehicle issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the 2009 vehicle issue yourself by looking for a resolution described in the article. If it is a complex 2009 vehicle issue or you are unable to solve the issue, you may contact us by clicking here or by using other 2009 vehicle support options.

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