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"less than 5"

Personal taxes. I am filing married jointly, so between myself and spouse, can we have 8 cars and use standard mileage deduction? We co-own the cars. To still qualify for the rule, should we own 4 cars each and not co-own or does it matter? 

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Michele Catlett
Employee Tax Expert

"less than 5"

IRS Topic 510 indicates "You must not operate five or more cars at the same time".  So do you own and operate more than 5 at the same time?  That would be the deal breaker.  I do not see any exception to that rule.  But you may qualify to use actual so you may not completely lose the expense.

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