ThomasM125
Expert Alumni

Deductions & credits

You have to have an accountability plan. In other words, you need to submit an expense account report periodically to justify the business use of the auto. Otherwise, you can end up being taxed on the reimbursement you receive from the company. 

 

You can read more about this in IRS publication 463 as follows:

 

https://www.irs.gov/publications/p463

 

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