Hi,
I thought I would be asked for how many years I like to include in terms of deducting a new vehicle purchase cost. I think I was asked this question when I purchased a used car two years ago and I just marked one year for deducting the purchase cost, but I am not asked this question this year (2024- tax year of 2023) when I included a new vehicle in the vehicle expense with the standard mileage option. Because this year it is a new car, I wanted to deduct the purchase cost (not the maintenance expense) over five years. Please let me know what I did wrong.
