ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You didn't do anything wrong. When you use the standard mileage deduction option, you can take a business standard mileage deduction for your vehicle for any year you use the vehicle in your business. When you choose that option, a depreciation factor is included in the standard mileage deduction rate for every year you use the vehicle in the business.

 

If you were to deduct the actual expenses, you would depreciate the vehicle for seven years, or you may be able to elect bonus or section 179 depreciation that would allow you to deduct the cost or a portion of the cost of the vehicle in the year you put it into service. This option is typically just available for heavy vehicles, over 6000 pounds of gross vehicle weight however.

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