Does vehicle have to be in my name to be claimed as a Section 179 Deduction for business use?

[megs-jesuscowgir]

I am looking to purchase a vehicle that will be 100% business use for my second job that requires travel. Does this new vehicle need to be in my name in order to be claimed for section 179 deductions or can it be in a family members name?

[Bsch4477]

You have to own the vehicle. 

[megs-jesuscowgir]

The vehicle also needs to be in my name for standard mileage rate deduction also? How is this verified?

[Mike9241]

if you have a lease, the standard mileage method would be ok.  if the iRS asks you show them the lease or title.  

[megs-jesuscowgir]

So I have personal/family owned, vehicle A, that I started using for my new self-employed contract job for commute travel. I plan to claim standard mileage rate. Do I need to have this vehicle transferred into my name before 2024?

I will be retiring vehicle A this year to solely personal use and purchasing vehicle B for 100-90% business use before the end of this year. To enable myself to claim either standard or actual cost rate deduction in future years, I need to claim standard mileage rate this first year for vehicle B correct? Does this disqualify me from a Standard 179 Deduction on vehicle B however if I claim standard mileage rate?