I had a vehicle that I was using for both personal and business use, for my small computer business. I used the vehicle all through out 2018 and claimed my mileage deduction for that. Then in April of 2019, I was rear-ended on the highway and the vehicle was totalled out.
The insurance paid off what was owed on that vehicle and I was also given $9000 to put down on a new vehicle. I purchased another used vehicle (the first one was used as well) that I put into service for the remained of the year. I put the $9000 down on it and making my payments now.
How do I go about putting this into my taxes. Again this vehicle is used for both personal and business purposes for my small company I have. Yes I track all the mileage for both vehicles using an approved app and keep records of use for business.
