Thank you. Could you clarify these?
What I paid for the car when I bought it does not enter into the calculations ? Only the FMV when I stopped using it?
This is a 2016 vehicle. I didn't start my sole proprietorship until late 2017. I claimed business miles in 2017 (207), in 2018 (1058) , in 2019 (2069) and a portion in 2020 (1056) which totals 4,390 business miles. In your reply -- "the total FMV is divided split between the business FMV based on business mileage to total mileage as is the business portion of the cost." -- does this mean total business miles 4,390 to total miles on the car (since 2016) when I stopped using it even though the first almost two years I wasn't using it for business?
Thx
