VictoriaD75
Expert Alumni

Deductions & credits

If you are using the standard mileage deduction, depreciation is considered as part of the deduction. If you use the actual expense method, depreciation will be considered separately, so the exact amount of the purchase will be more relevant.

 

If you were driving the kids to different activities, the miles between those destinations can be deductible. You just would not be able to deduct miles between your home and the work site. Again, the IRS requires documentation of all miles. There are great apps for tracking business miles. Keep in mind, these miles are only deductible at all if you were considered self-employed. 

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