JulieR
Expert Alumni

Get your taxes done using TurboTax

No, you don't have to depreciate the vehicle as long as you did not choose actual expenses (fuel, insurance, repairs, etc.) in the first year the vehicle was placed in service.  You may choose to claim the standard mileage rate for any subsequent vehicle, in the first year you use the vehicle for business. In later years you can choose to use the standard mileage rate or switch to actual expenses.

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